Jio-Google deal: Google to invest Rs 33,737 crore in Jio platforms

Reliance Industries Ltd (RIL) during its 43rd annual general meeting (AGM) has announced the reeling in of Google as an investor. The company has announced Google will invest Rs 33,737 crore for a 7.7 per cent stake in Jio platforms after all regulations are met. With this, Google will be joining partners like Facebook, Silverlake, KKR, TPG, Intel and Qualcomm, among others.

Google recently said it will be investing $10 billion in India over the next five to seven years. With this investment, the company aims to consolidate its position in the digital ecosystem of the country. The company will be deploying these investments via a mix of investments and partnerships.

RIL’s Chairman & Managing Director, Mukesh D Ambani has announced that with Google’s investment, Reliance has turned completely debt-free. From now, it will only be accepting strategic investments.