Google to pick 7.7% stake in Jio for Rs 33,737 cr

Google will pick up 7.7 per cent stake in Reliance Industries' technology venture for Rs 33,737 crore, richest Indian Mukesh Ambani said.

"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Ambani said at the company's annual general meeting.

This takes the cumulative fund raising by Reliance in less than three months to Rs 2,12,809 crore, he said.

This includes investments by Facebook and other investors in Jio Platforms and Rs 53,124 crore Rights Issue, and investment by BP in fuel retailing venture.

 

Asianet.in/News Desk: Asianet Online