Facebook to invest Rs 43,574 crores in Jio platforms for a 9.99% stake.
It’s the largest FDI for Minority Investment in India. This partnership will create opportunities for people and businesses. RIL has invested nearly Rs. 4 lakh crores since 2010 to create the Jio digital ecosystem.
Jio platforms, a fully owned subsidiary of Reliance industries limited, is a next generation technology company building a digital society for India by bringing together Jio’s leading digital apps, digital ecosystem and India’s #1 high speed connectivity platform under one umbrella. Reliance Jio infocomm limited, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly owned subsidiary of Jio platforms.
Jio’s vision is to enable a Digital India for 1.3 billion Indians and Indian businesses, especially small merchants, micro businesses and farmers.