Social media platform Facebook has announced a big investment in Reliance Jio last Wednesday morning. According to the information received, the company has invested $ 5.7 billion (Rs 43,574 crore) in Jio and thus has bought 9.99% stake of Facebook Reliance Jio. Recently, Reliance Jio said in a statement, 'Today we announce Facebook's investment of $ 5.7 billion (Rs 43,574 crore) in Reliance Industries' Jio Platform Limited.' After this big deal, Facebook has now become the largest shareholder of Jio and this deal will help Reliance Industries Group to reduce its debt burden and strengthen Facebook's position in India.

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India is also the largest market for this in terms of user base. Jio Platforms is a wholly owned subsidiary of Reliance Industries Limited (RIL), which provides all types of digital services. Its number of customers is more than 38.8 crore. On the partnership with Facebook, Reliance Industries Chairman and Managing Director Mukesh Ambani said that "When Reliance launched Jio in 2016, then we are looking to improve the quality of life of every Indian and make India the world's leading digital Were inspired by the dream of promoting it as a society. That is why all of us at Reliance welcome Facebook as our partner to develop and transform India's digital ecosystem. ''

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In a statement of Reliance said, "Today we are announcing to invest US $ 5.7 billion or Rs 43,574 crore in Reliance Industries Ltd's Jio Platforms Ltd, which will make Facebook its largest minority shareholder. In Facebook's investment, the value of Jio Platforms was estimated at Rs 4.62 lakh crore (US $ 65.95 billion, at an exchange value of Rs 70 per dollar). Jio Platforms Limited holds 100% stake in Reliance Industries' telecom network Jio. "The statement further said that" Facebook will hold 9.99% stake in Jio Platforms. Not only this but in a statement of Reliance said, "Today we are announcing an investment of US $ 5.7 billion or Rs 43,574 crore in Reliance Industries Ltd's Jio Platforms Ltd, which will make Facebook its largest minority shareholder. The value of Jio platforms was estimated at Rs 4.62 lakh crore (US $ 65.95 billion, at an exchange price of Rs 70 per dollar). Jio Platforms Limited holds 100% stake in Reliance Industries telecom network Jio. Facebook's share in Jio Platforms will be 9.99%. ''

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After this deal, Zuckerberg said, "I want to thank Mukesh Ambani and the entire Jio team for their partnership. I am very excited about the new deal. On the other hand, Reliance said in a separate statement that Facebook invested Rs 4.62 lakh crore on Jio platforms assuming a pre-money enterprise value (USD 65.95 billion after converting to USD 70 per dollar)." Saudi is also in talks with Aramco to sell a 20% stake in its oil-chemicals business and the group has set a target of becoming debt-free by next year. Talks were also being held with Google for a stake in Jio, but the outcome of those conversations is not known at the moment. The latest deal is beneficial for both Jio and Facebook because India is the second largest internet market in the world after China.

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