Social media giant Facebook on Wednesday announced to invest Rs 43,574 crore into Jio Platforms, the investment will translate into a 9.99 per cent equity stake in Jio Platforms, the largest FDI in the Indian tech sector. Reliance Industries Limited, Jio Platforms Limited, and Facebook, Inc. on Wednesday announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms. Facebook's investment will translate into a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis, a statement issued by the Reliance Industries Limited read.

This investment by Facebook values Jio Platforms at Rs4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of Rs 70 to a US Dollar). Commenting on the partnership with Facebook, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, "When Reliance launched Jio in 2016, we were driven by the dream of INDIA'S DIGITAL SARVODAYA - India's Inclusive Digital Rise to improve the quality of life of every single Indian and to propel India as the world's leading Digital Society."