Home / Companies / News / Google to invest Rs 33,737 crore for 7.73% stake in Jio Platforms

Google to invest Rs 33,737 crore for 7.73% stake in Jio Platforms

The two companies will collaborate for the development of entry-level affordable 4G and 5G smartphones as well as Android-based operating systems, Ambani announced during the virtual AGM

The other app where a lot of resources will be put in is JioMart, the e-commerce app that will be available through WhatsApp very soon

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With the latest investment, Jio has raised Rs 1.52 trillion, selling 32.97 per cent stake to 14 investors including Facebook, private equity (PE) firms and sovereign wealth funds in the process.

Aneesh Phadnis Mumbai

3 min read Last Updated : Jul 16 2020 | 1:12 AM IST

Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday announced a strategic partnership with Google and development of in-house 5G solutions, in a bid to win over new customers and create a platform for future growth.

Google will invest Rs 33,737 crore for 7.73 per cent stake in Jio Platforms. The two companies will collaborate for the development of entry-level affordable 4G and 5G smartphones as well as Android-based operating systems, Ambani announced during the virtual annual general meeting (AGM).

“Our investment of $4.5 billion in Jio is the first — and biggest — that we will make through this ($10

Topics : Google Reliance Industries Mukesh Ambani Reliance Jio Android smartphones operating system Reliance Industries AGM Sundar Pichai Facebook Qualcomm Intel Corp

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