"This investment by Facebook values Jio Platforms at Rs 4.62 trillion pre-money enterprise values ($65.95 billion, assuming a conversion rate of Rs 70 to a US Dollar). Facebook’s investment will translate into a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis," it added.
The company added, "Our goal is to enable new opportunities for businesses of all sizes, but especially for the more than 60 million small businesses across India.
Reliance Jio, a wholly-owned subsidiary of Reliance Industries, has been the fastest-growing telecom network in the country since its launch in 2016. Jio has more than 388 million customers in India.
At 09:16 am; RIL was trading 6 per cent higher at Rs 1,306 on the BSE, against 0.07 per cent decline in the S&P BSE Sensex. A combined 1.6 million shares were changed hands on the counter so far on the NSE and BSE so far.