A big deal has been done between Reliance Industries’ Jio and the world’s largest social networking site Facebook.
Facebook has announced an investment of Rs 43,574 crore for a 9.99% stake in the Jio platform.
After this big deal, Facebook has now become the largest shareholder of Jio. After this investment by Facebook, the enterprise value of Jio Platforms has increased to 4.62 lakh crore.
It is the largest foreign direct investment in India (FDI) in terms of minority investment. The partnership between the two companies will create many employment opportunities and at the same time increase the business. On this big deal, Reliance says that it is the largest investment by a tech company on a small part of the company.
This is by far the largest investment under FDI in the technology sector in India. Facebook says the investment reflects its trust in India.
Facebook said, ‘This investment reflects our commitment to India. We are also excited by the huge changes that Jio has brought to India. In less than 4 years, Reliance Jio Platform has brought more than 38 crore customers on the online platform. So we are committed to connecting with more people in India through Jio. ‘
Jio Platform debuted in 2016. Gradually, it gained a foothold in the telecom industry. It expanded from telecom and broadband to e-commerce and reached 38 crore subscribers. Talking about Facebook, it has 400 million users in India and the number of internet users is estimated to reach 85 crores this year.
On March 24, there were reports in the media that Facebook is considering investing several billion dollars in Reliance Jio. The report said that Facebook can invest up to 10 percent in Reliance Jio by investing ‘billions of dollars’.
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