Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

RIL AGM 2020: Google will invest Rs 33,737 crore for 7.7% in Jio Platforms

With this investment Google becomes the second largest investor in Jio Platforms after social media giant Facebook that invested $5.9 billion (Rs 43,574 crore) for a 9.99% stake.

July 15, 2020 / 04:59 PM IST

Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platforms Limited, becoming the latest A-list investor in the digital unit of Reliance Industries (RIL).

This investment by Google values Jio Platforms at an equity value of ₹ 4.36 lakh crore. Google’s investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.

Track all the updates on RIL AGM by following our LIVE blog here

The deal with Jio, which runs the telecom enterprise Jio Infocomm, India’s biggest, as well as movie, news and music apps, is not just a financial but also a strategic investment by the internet giant. Google has joined Facebook Inc, Intel Corp and Qualcomm as strategic partners in Jio.