Mumbai. Reliance Industries (RIL) chairman Mukesh Ambani said on Wednesday that Google would invest Rs 33,737 crore for a 7.73 per cent equity stake in Jio Platforms. A regulatory filing by RIL states that Google is investing in an equity valuation of Rs 4.36 lakh crore.
The filing stated, “Jio Platforms Limited, a subsidiary of the company, today signed binding agreements with Google International LLC, under which Google will invest Rs 33,737 crore for an equity stake of 7.73 per cent in Jio Platforms Limited. . Google is investing in an equity valuation of Rs 4.36 lakh crore. ”
This transaction is subject to formal regulatory approvals.
Mukesh Ambani said at the annual general meeting of RIL that he is keen to work in a collaborative manner with investors in Jio Platforms.
The RIL chairman made another major announcement, saying that Jio has completely designed a 5G solution and it will be available for testing as spectrum is available.
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