Jio Platform Gets Rs 43,574 Crore From Facebook for 9.99% Stake Sale
"Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Limited," the filing said.
New Delhi, July 7: Jio Platforms, the parent firm Reliance Jio, has received Rs 43,574 crore investment from Facebook for a 9.99 per cent stake in the company, Reliance Industries said in regulatory filing on Tuesday. Also Read | New Renault Kwid 1.0-Litre RXL Variants Launched at Rs 4.16 Lakh; India Prices, Features, Variants & Specifications.
The deal between Jio Platforms and Facebook was announced on April 22. Also Read | Motorola Moto G 5G Plus Smartphone With Quad Rear Camera Launched: Check Prices, Features, Variants & Specifications.
"We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, today received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc)," RIL said in the filing.
Facebook picked 9.99 per cent stake in Jio Platforms at an enterprise value of Rs 4.62 lakh crore.
"Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Limited," the filing said.
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