The day opened with the news of Facebook’s mega-investment into Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited (RIL). For the princely sum of $5.7 billion, or roughly INR 43,000 crores, Facebook will acquire a 9.9% stake in Jio Platforms at an enterprise valuation (EV) of roughly $65 billion. Out of these funds, roughly 65% will reportedly be used to redeem optionally convertible preference shares (OCPS) of Jio’s parent company, Reliance Industries Lt