Under an agreement between Reliance Industries Limited (RIL), Jio Platforms Limited, and Facebook, Facebook will invest Rs 43,574 crore in Jio platforms. Facebook is buying a 9.9% stake in Jio platforms through this investment. With this investment from Facebook, the pre-money enterprise value of Jio platforms is estimated at Rs 4.62 lakh crore. Let's know ten big things about this agreement...
1- With this investment, there is a commercial partnership agreement between Jio Platforms, Reliance Retail, and Facebook's WhatsApp.
2- Reliance Industries Chairman and Managing Director Mukesh Ambani said, "In the near future, JioMart, JioMart, Jio's new digital commerce platform, and WhatsApp together will enable about 3 crore small Indian grocery stores to make digital transactions."
3- Reliance Industries said that this is the world's largest investment for short share in a technology company.
4- This transaction between Facebook and Jio platforms is subject to regulatory clearances. The financial advisor to the deal has been Morgan Tenley. Azb and Partners and Davis Poke and Wardwell have been legal advisors to this transaction.
5- About this transaction, Facebook said that this investment reflects our commitment to India.
6- In less than 4 years, Jio has played a significant role in bringing over 38.80 crore people online.
7- This Facebook investment will significantly help Reliance Industries, a well-known company from oil to the telecom sector, to reduce its debt.
8- With this investment of Facebook, the top five listed companies have joined in a period of just three and a half years to start commercial services in terms of price-wise Jio-platforms market capitalization.
9- On this deal, Reliance Industries said that it is the world's largest investment for short participation in a technology company, and is the largest foreign direct investment (FDI) in India's technology sector.
10-Mukesh Ambani said that on behalf of Reliance, we all welcome Facebook as a long-term partner. The partnership will bring about a major change in India's digital ecosystem and benefit all Indians.
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