India’s antitrust watchdog has approved Google’s proposed investment of $4.5 billion in the nation’s largest telecom platform Jio Platforms, it said in a tweet on Wednesday. Google announced in July that it would be investing $4.5 billion for a 7.73% stake in the top Indian telecom network.
Is Google investment in Jio?
Joining the elite list of investors, such as Facebook, Google has now paid ₹33,737 crores to Jio Platforms Limited, a subsidiary of the Mukesh Ambani-owned Reliance Industries Limited (RIL). With this investment, Google owns a 7.73% stake in Jio.
Did Google buy Jio shares?
NEW DELHI: Reliance Industries Ltd (RIL) said that subsidiary Jio Platforms has received Rs 33,737 crore from Google for a 7.73% stake, the US internet giant’s biggest-ever investment in an Indian company.
Who invested in Jio in 2020?
American PE firm KKR acquired a 2.32% stake in Jio Platforms for ₹113.67 billion (US$1.6 billion). In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for ₹90.936 billion (US$1.3 billion).
What is the deal between Jio and Google?
The Jio-Google Cloud deal, which is not only for 5G but also to transition Reliance Retail and JioMart to the Cloud, also includes developing apps with Edge Computing.
How can I invest in Jio?
How to invest in Jio Platforms. Currently, Jio Platforms isn’t listed on any stock exchange. If you want to invest in Jio Platforms, you’d have to invest in Reliance Industries stock. Reliance’s chairman and managing director Mukesh Ambani said that Reliance plans to take Jio public in the future.
Who bought Jio?
Reliance Industries Ltd (RIL) announced on Tuesday that Canada-based Brookfield Infrastructure Partners LP and its institutional partners have bought its (Reliance Jio’s) telecom tower assets for Rs 25,215 crore ($3.4 billion).
Why did Jio get invested?
Social distancing has meant increased usage of technology and digital solutions, which is driving investors towards tech companies. RIL has tapped into this heightened interest for technology investments by positioning Jio as a digital platform company.
How much money has Jio invested?
Reliance Jio has received a flood of investment in recent months. It has raised a total of Rs 1.52 lakh crore by selling almost 33 per cent stake to 13 financial and strategic investors in only 11 weeks, helping to cut down RIL’s net debt target for the full fiscal year.
How much money has Jio raised?
NEW DELHI: Reliance Industries Ltd, controlled by Asia’s richest man Mukesh Ambani, has raised Rs 1.65 lakh crore ($22.43 billion) over the past few months through stake sales at its digital unit Jio Platforms and its retail arm Reliance Retail Ventures.