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.
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.