Info-tech

Jio Platforms gets Rs 33, 737 crore funds from Google International

Our Bureau Mumbai | Updated on November 24, 2020 Published on November 24, 2020

Qualcomm is the thirteenth investor in Jio Platforms which has raised a total of over ₹1.18 lakh crore

Jio Platforms Ltd, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has received the subscription amount of ₹33,737 crore from Google International LLC.

Google International, a wholly-owned subsidiary of Google LLC, now holds 7.73 per cent of fully diluted share capital of Jio Platforms, RIL said in a late evening exchange filing.

Earlier in July, Google entered into an agreement to invest $4.5 billion (₹33,737 crore) in Jio Platforms in lieu of a 7.73 per cent stake. This was the first investment from Google For India Digitization Fund.

Also Read: Google invests ₹33,737 crore in Jio Platforms

Google and Jio Platforms have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store.

Also See: Google, Jio to develop affordable 4G smartphone for India

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on November 24, 2020
This article is closed for comments.
Please Email the Editor