Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani said Google will invest Rs 33,737 crores for 7.7 per cent stake in Jio Platforms.
“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 INR 33,737 crores for a 7.7% stake in Jio Platforms: Mukesh Ambani at #RILAGM #NayeIndiaKaNayaJosh #Jio, ” Reliance Jio tweeted.
The announcement came following US State Secretary listing Reliance Jio as among the “Clean Telcos” of the world for refusing to do business with Chinese companies like Huawei.
This is the 14th mega investments in Reliance Industries’ telecom arm Jio Platforms.
Addressing the shareholders at Reliance Industries’ 43rd AGM, Ambani said the firm signed a binding partnership on July 15.
He also said the firm is looking forward to only adding strategic partners in each of our future businesses.
He said the firm has developed 5G solution to launch a worldclass 5G service in India, using 100 per cent homegrown technologies and solutions.
Ambani announced that JioMeet is India’s first cloud-based video-conferencing application. It was built in 2 months and already has crossed over 5 million users since the launch.
Reliance Group has so far raised Rs 1,52,056 crore, the largest investment till date in the history of capital market in India.
Further combining the rights issue and BP’s investment, RIL has cumulatively raised Rs 2.12 lakh crore.