Reliance Industries (RIL) share prices rallied on April 22 after Facebook said it will investment $5.7 billion in Reliance Jio. The telecom unit of RIL sold a 9.99 percent stake to the US tech giant for Rs 43,574 crore.
The investment makes Facebook the largest minority shareholder in Jio and values the platform at an enterprise value of Rs 4.62 lakh crore. It is the largest investment for a minority stake by a tech firm anywhere in the world. It is also the largest FDI in the technology sector in India and with this, the deal values Jio platforms among the top five listed companies in India by market capitalisation.
Moneycontrol's Sakshi Batra does a 3 point analysis to understand the broad contours of the deal and what it means for RIL's shareholders now.
Catch our entire coverage on the Facebook-Jio deal here.
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