Facebook buys 9.9% stake in Reliance Jio for Rs 43,574 crore

Social Media giant Facebook has bought 9.9% stake in Reliance Jio for $5.7 billion (Rs 43,574 crore).
With this investment, Facebook has become the largest minority shareholder of Reliance Jio , the telecom unit of Reliance Industries Ltd (RIL).
This is also the largest investment for a minority stake by a technology company anywhere in the world as well as the largest FDI in the technology sector in India.
Following the Facebook’s investment, the Jio Platform has been valued at Rs 4.62 lakh crore ($65.95 billion).