Facebook pays $5.8b subscription amount to Jio Platforms

The Facebook logo is displayed and lit on a wall. Photo: Alex Haney/Unsplash

Facebook Inc-owned Jaadhu Holdings LLC has paid the subscription amount of 43,574 crore to Reliance Industries Ltd’s (RIL) digital services subsidiary Jio Platforms Ltd to acquire 9.99% stake in the latter, RIL said in a statement on Tuesday.

“Jio Platforms has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms,” Reliance Industries said in its stock exchange filing.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter