Jio receives Rs 43,574 crore from Facebook for 9.99% stake | hybiz tv
- 4 years ago
Jio Platform, the digital arm of Mukesh-Ambani led Reliance industries said that it has received Rs 43,574 crore investment from Facebook for a 9.99 percent stake in the company.
The deal between Jio Platforms and Facebook was announced on April 22.
The company said in a regulatory filing that they have received the subscription amount of Rs43,574 crore from Jaadhu Holdings. Jaadhu Holdings is a Facebook-owned subsidiary incorporated just a month before the Mark Zuckerberg-led company announced the investment in Jio Platforms. Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 percent of the fully diluted equity share capital of Jio Platforms Limited.
The deal between Jio Platforms and Facebook was announced on April 22.
The company said in a regulatory filing that they have received the subscription amount of Rs43,574 crore from Jaadhu Holdings. Jaadhu Holdings is a Facebook-owned subsidiary incorporated just a month before the Mark Zuckerberg-led company announced the investment in Jio Platforms. Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 percent of the fully diluted equity share capital of Jio Platforms Limited.