Indian market regulator fines Reliance for not properly disclosing Facebook deal

India’s market regulator fined Reliance and two of its officers on Monday for not properly disclosing Facebook’s $5.7 billion investment into Jio Platforms in April 2020.
The Securities and Exchange Board of India said that media had reported about the then-impending deal in March itself, which prompted the shares of the group company to rise. (Some inside baseball: Financial Times broke the news in March that Meta, then called Facebook, was in advanced stages of talks to make multi-billion investment in Jio Platforms, the digital unit of Reliance Industries. The news was quickly a

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