This is Big! Facebook entry into Reliance Jio, largest FDI deal with Rs. 43,574 Crore is biggest news today. The deal values Jio Platforms at Rs 4.62 lakh crore and will make Facebook the largest minority shareholder in the telecom company.
Facebook Buys 9.99% Stake in Reliance Jio for Rs 43,574 Crore, Largest FDI in India’s Tech Sector
The iconic social media platform Facebook has recently bought shares in Mukesh Ambani-based Reliance Jio. With a total investment of Rs 43,574 crore, Jio acquired a 9.9 per cent stake. This is the largest FDI deal in the national tech sector. It is also the first time in the world that a tech company has invested at this level for a minority stake. Reliance Industries (RIL) has recently revealed the details of the deal.
Reliance Jio is worth Rs 4.62 lakh crore. Jio has joined the top 5 largest market cap companies in the country. Reliance Jio said the deal was designed to provide more opportunities for small businesses across the country. The partnership will help to make the new digital system accessible to over 130 crore Indians.