Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Google to Invest Rs 33,737cr in Jio Platforms for 7.73% Stake

by | May 25, 2021

GoogleMUMBAI — In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest Rs 33,737 crore in Jio Platforms for an equity stake of 7.73 per cent.

Google is investing at an equity valuation of Rs 4.36 lakh crore, said an RIL regulatory filing.

“Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest Rs 33,737 crore for a 7.73 per cent equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of Rs 4.36 lakh crore,” it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Recent Posts

Sensex trades lower amid mixed global cues

Sensex trades lower amid mixed global cues

Mumbai: Indian equity indices opened lower on Friday following mixed cues from global markets. At 9.48 a.m., Sensex was down 430 points or 0.52 per cent at 81,771 and Nifty was down 118 points or 0.48 per cent at 25,023. The broader market trend remains positive. On...

Rapido raises USD 200 mn to expand operations, scale tech platform

Rapido raises USD 200 mn to expand operations, scale tech platform

New Delhi: Homegrown ride-sharing platform Rapido on Thursday said it has raised $200 million in its Series E funding, taking its valuation to over $1.1 billion. The funding round was led by WestBridge Capital, and also saw participation from existing investor Nexus,...

Rupee falls 3 paise to settle at 84.01 against US dollar

Rupee falls 3 paise to settle at 84.01 against US dollar

Mumbai: The rupee breached the crucial 84-mark second time within a month and settled 3 paise lower at 84.01 on Wednesday amid a sharp decline in the domestic equity markets as investors stayed away from riskier assets. However, a weak dollar against major...

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *