Reliance Jio Platforms from Facebook has got Rs 43,574 crore for 9.99% stake in the company. The deal between Jio Platforms and Facebook was announced on 22 April. On Tuesday, Reliance Industries gave this information to the stock market, saying, 'after getting all the necessary permissions, the company's subsidiary Jio Platforms Limited got Rs 43,574 crore from Facebook's wholly-owned subsidiary Jadhu Holdings, LLC (Jaadhu Holdings). The amount has been received.' Facebook has taken a 9.99% stake in Jio platforms at an enterprise value of Rs 4.62 lakh crore.
By this deal, where Facebook has invested in a big company for the first time in India. With the help of Facebook and WhatsApp, it will be able to reach out to about 6 crore small shopkeepers of the country. This will increase Facebook's reach in India. In the last five years, the internet has reached 56 crore people in India, and Jio itself has 38.8 crore consumers in its network. This deal is a profitable deal for both. Significantly, Mark Zuckerberg-led Facebook formed Jadhu Holding a month before the decision of this investment. It is headquartered in Delaware, USA, which is considered a tax-exempt location.
In the last 11 weeks, an investment of Rs 1,17,588 crore has been announced in about a dozen deals in Reliance Jio. Investment by a stake has increased to 25.09%. The latest investment was by Intel Capital, which decided to invest Rs 1,894.5 crore in Jio Platforms last week instead of 0.39%. Intel Capital works in technology sectors such as cloud computing, artificial intelligence, and 5G, with investments globally in innovative companies. These are the areas where Reliance Jio is also expanding and the benefit of this deal is for both.
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