Reliance Industries on Wednesday announced that social media giant Facebook will invest Rs 43,574 crore ($5.7 billion) in its subsidiary Jio Platforms for a 9.99 percent stake.
The investment makes Facebook the largest minority shareholder in Jio Platforms and values the RIL technology arm at Rs 4.62 lakh crore ($66 billion) pre-money enterprise value.
Also read: Facebook to invest Rs 43,574 crore in Reliance Jio Platform for 10 percent stake
In an interview with CNBC-TV18, SP Tulsian of sptulsian.com, Rajiv Sharma of SBICAP Securities and Nitin Soni of Fitch Ratings discussed the details and impact of the deal.
Disclaimer: Reliance Industries, the promoter of Reliance Jio, also controls Network18 which owns CNBC-TV18.