Reliance Industries’ arm gets Rs 43,574 crore from Facebook for 9.99% stake sale
8th Jul 2020

Reliance Industries’ wholly-owned subsidiary -- Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc), after receipt of all requisite approvals. Jio Platforms has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms.

Facebook picked 9.99 percent stake in Jio Platforms at an enterprise value of Rs 4.62 lakh crore. Facebook was the first of 12 marquee investors that have cumulatively invested over Rs 1.17 lakh crore in about the last two and a half months to buy 25.09 percent stake in Jio Platforms.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.