Monday, July 26, 2021
News

Google to invest Rs 33,737cr in Jio Platforms for 7.73% stake

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Wednesday, 2020 8:45:06 PM IST
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.

--IANS rrb/sn

( 181 Words)

2020-07-15-14:57:17 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
TalentSprint and Salesforce join forces ...
Elenium Automation launches VYGR, a USD ...
S&P rates APSEZ's proposed US$750 mi...
Spice Grill Flame, a pioneer in the vege...
Create an emergency fund with Bajaj Fina...
Equirus Group organises a panel discussi...
More...
 
INDIA WORLD ASIA
Indian Coast Guard carry out relief, res...
Huge haul of explosive material recovere...
Maharashtra to set up NDRF-style mechani...
Maharashtra floods: Rajesh Tope instruct...
Assam reports 1,054 new COVID-19 cases, ...
Nine tourists killed in Himachal landsli...
More...    
 
 Top Stories
Tennis: Naomi, Barbora breeze into ... 
HP unveils next-gen gaming PCs in I... 
Israeli airlines launch 1st commerc... 
Sensex inches higher to reclaim 53,... 
Pegasus row: RS Oppn floor leaders ... 
Singapore to ease COVID restriction... 
SC disapproves hoarding and distrib... 
Disagreement may be a way to make o...