Facebook deal values Jio at Rs 4.62 lakh crore, puts it among top 5 listed firms in India

Reliance Industries on April 22 announced the signing of a binding agreement for an investment of Rs 43,574 crore by Facebook into Jio Platforms.

This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US Dollar). Facebook’s investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis.

In the Indian telecom space, this investment valuation in Jio of Rs 4.62 crore is nearly Rs 2 lakh crore higher than the listed telecom entity, Bharti Airtel’s, whose market-cap is Rs 2.73 lakh crore, as on April 21.

Read all Facebook-Jio deal-related news here.

The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization. The top four companies in the market-cap are Reliance Industries, Tata Consultancy Services, Hindustan Unilever and HDFC Bank.

Disclaimer: Reliance Industries Ltd., which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.