• India
  • Business
More

    Mukesh Ambani: Google to Pick 7.7% stake in Jio for Rs 33,737 crore

    Must Read

    Covid 19 cases reached 24702 in Vadodara after 43 new cases on Sunday

    Total 34 discharged from hospital taking the total to 23877 The number of positive...

    Vadodara District Election Officer Shalini Agarwal visited polling booths in villages of Vadodara taluka

    Inspected the voting process interacted with elder voters Under the leadership of District...

    India reports over 16,000 new Covid-19 cases for 4th straight day

    India registered a single-day rise of over 16,000 cases of the coronavirus disease (Covid-19) for the fourth...

    Reliance India chairman Mukesh Ambani said Wednesday Google will invest over Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms taking the string of investments well over Rs 152,000 crore.

    “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 Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms,” Ambani said at the company’s annual general meeting.

    This takes the cumulative fund raising by Reliance in less than three months to Rs 2,12,809 crore, he said.

    This includes investments by Facebook and other investors in Jio Platforms and Rs 53,124 crore Rights Issue, and investment by BP in fuel retailing venture.

    “It is in excess of our net debt of Rs 1,61,035 crore at the end of FY19-20”, he said. Reliance is now truly a zero net debt company, well ahead of my goal of March 2021.

    Google chief executive Sundar Pichai had on Monday announced plans to invest Rs 75,000 crore in India over the next five to seven years to help accelerate the adoption of digital technologies in the country.

    Announcing the Rs 75,000 crore investment through Google for India Digitisation Fund, Pichai asserted that the move is a reflection of company’s confidence in the future of the country and its digital economy.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Latest News

    India reports over 16,000 new Covid-19 cases for 4th straight day

    India registered a single-day rise of over 16,000 cases of the coronavirus disease (Covid-19) for the fourth...

    Vadodara District Election Officer Shalini Agarwal visited polling booths in villages of Vadodara taluka

    Inspected the voting process interacted with elder voters Under the leadership of District Election Officer Shalini Agarwal, polling...

    India reports over 16,000 new Covid-19 cases for 4th straight day

    India registered a single-day rise of over 16,000 cases of the coronavirus disease (Covid-19) for the fourth day in a row and...

    Strict safety measures against Covid 19 at polling booths during elections in Vadodara

    Vadodara District Electoral System is taking every measure to ensure strict vigilance related to Covid 19 during the elections. Various arrangements have...

    Nationwide COVID-19 Vaccination drive to be expanded from tomorrow to cover vulnerable age-groups

    India is all set to expand the nationwide COVID-19 Vaccination drive from tomorrow to cover people above 60 years of age and...

    More Articles Like This

    - Advertisement -