This investment by Facebook values Jio Platforms at ₹ 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US Dollar). Facebook's investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries , is a next-generation technology company building a Digital Society for India by bringing together Jio's leading digital apps, digital ecosystems and India's #1 high speed connectivity platform under one umbrella. Reliance Jio Infocomm , which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.
The partnership between Facebook and Jio is unprecedented in many ways. This is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India. The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization, within just three and a half years of launch of commercial services, validating Reliance Industries' capability in incubating and building disruptive next-generation businesses, while delivering market defining shareholder value.
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