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Here's what Jio was worth before the Facebook deal valued it at over $65 billion

Jio is now worth more than the combined GDP of countries like Zimbabwe ($19.4 billion), Mauritius ($14 billion) and Iceland ($26.6 billion).

April 22, 2020 / 10:43 AM IST
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  • nselive
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Facebook has bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), valuing the telecom arm of Reliance Industries at a whopping $65.95 billion.

Touted as the largest FDI in the technology sector in India, the investment values Jio Platforms amongst the top 5 listed companies in India by market capitalisation, within just three and a half years of the launch of its commercial services, it said in a statement.

Following the announcement, Jal Irani of Edelweiss Securities assigned sum-of-the-parts enterprise value of $40.5 billion to Jio citing Whatsapp and JioMart's formidable partnership. However, he believes that the deal is overvalued and has an outperformance call on RIL.

Read all Facebook-Jio deal-related news here.