Google to invest ₹33,737 cr in Reliance Jio Platforms

Reliance Industries has announced a new stakeholder in Jio Platforms. The company has announced Google as a new strategic partner. The company has claimed that the search giant will invest ₹33,737 crore with a stake of 7.7%. This takes the total investment by stakeholders to ₹1,52,056 crore.

Before the Google announcement, Reliance Industries had sold stakes worth ₹1,18,318.45 crore which includes other investors like Facebook. While the lockdown and times of uncertainty hit the share values of most companies, Reliance Industries has managed to soar through by an increment of over 120% since the lockdown began in mid-March. Other major investors and collaborators from the tech world include chipset makers Intel and Qualcomm.

Globally, the company has managed to make space for itself in the list of top 50 most valuable publicly traded firms globally.