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    RIL says Jio Platforms received Rs 43,754 crore from Facebook unit for 9.99% stake

    Synopsis

    The company said the amount was received after all requisite approvals.

    Reuters
    On April 22, RIL had announced Facebook's Rs 43,574-crore investment in Jio Platforms for a 9.99 per cent stake, which was followed by a series of other marquee names investing in the unit.

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    Mumbai: Reliance Industries (RIL) said on Tuesday its unit Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, a wholly-owned unit of Facebook Inc for a 9.99 per cent stake.

    In a release late on Tuesday, the company said the amount was received after all requisite approvals.

    On April 22, Reliance Industries had announced Facebook's Rs 43,574-crore investment in Jio Platforms for a 9.99 per cent stake, which was followed by a series of other marquee names investing in the unit.

    Last week, Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, picked up 0.39 per cent equity stake in Jio Platforms for Rs 1,894.50 crore, making it the eleventh investor to pick up stake in RIL’s telecom and digital business in about two months.

    Intel's investment will take the total investments in Jio Platforms to Rs 1,17,588.45 crore for 25.09 per cent holding.

    The latest investment pegs Jio Platforms’ equity value at Rs 4.91 lakh crore and an enterprise value of RS 5.16 lakh crore
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    1 Comment on this Story

    Ramesh Juvekar36 days ago
    KG Basin claims.
    laughable to say the least.
    Rig it.Drill it.Fake it.Stall it.
    All the same.
    As per Ray Dalio.A decade lost.
    Faking has a limit.
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