RIL says Jio Platforms received Rs 43,754 crore from Facebook unit for 9.99% stake

Mumbai: Reliance Industries (RIL) said on Tuesday its unit Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, a wholly-owned unit of Facebook Inc for a 9.99 per cent stake.

In a release late on Tuesday, the company said the amount was received after all requisite approvals.

On April 22, Reliance Industries had announced Facebook's Rs 43,574-crore investment in Jio Platforms for a 9.99 per cent stake, which was followed by a series of other marquee names investing in the unit.

Last week, Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, picked up 0.39 per cent equity stake in Jio Platforms for Rs 1,894.50 crore, making it the eleventh investor to pick up stake in RIL’s telecom and digital business in about two months.

Intel's investment will take the total investments in Jio Platforms to Rs 1,17,588.45 crore for 25.09 per cent holding.

The latest investment pegs Jio Platforms’ equity value at Rs 4.91 lakh crore and an enterprise value of RS 5.16 lakh crore