According to a regulatory filing by Reliance Industries Limited (RIL), Jio Platforms, a subsidiary of RIL, has received the subscription amount of Rs 435.74 billion from Jaadhu Holdings, LLC, a wholly-owned subsidiary of Facebook Inc. The move comes after the two companies received all requisite approvals.
Earlier, in April 2020, Facebook had acquired a 9.99 per cent stake in Jio Platforms at an enterprise value of Rs 4.62 trillion.
As per the filing, Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Limited.
