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Jio Platforms, a wholly-owned subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has received the subscription amount of ₹43,574 crore from Jaadhu Holdings LLC.
RIL also got all regulatory approvals for the deal with Jaadhu Holdings, a wholly-owned subsidiary of Facebook. Following the agreement, Jaadhu Holdings holds 9.99 per cent stake in Jio Platforms, RIL said in a regulatory filing.
RIL had announced the deal with Facebook on April 22.
ALSO READ: Facebook picks 9.99 per cent in Jio Platforms
On June 24, RIL had received the Competition Commission of India (CCI), the country’s antitrust watchdog, approval for Facebook’s proposed acquisition of a 9.9 per cent stake in Jio Platforms for $5.7 billion (₹43,574 crore).
READ THE STORY: CCI approves Facebook’s $5.7-billion investment in Jio Platforms
Jaadhu Holdings is an indirect wholly-owned subsidiary of Facebook and is incorporated under laws of the State of Delaware, US.
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