Reliance Industries Limited said that its subsidiary Jio Platforms has received the subscription amount of ₹ 33,737 crore from Google International LLC, as part of the deal announced in July wherein Google agreed to buy a 7.73 per cent stake in Jio platform.
This is the biggest-ever investment by Google in an Indian company. The Competition Commission of India (CCI) approved the tech-major picking up 7.73% stake in Jio Platforms.
“We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, today received the subscription amount of Rs 33,737 crore from Google International LLC (a wholly owned subsidiary of Google LLC),” RIL informed BSE.
Jio Platforms Limited has allotted equity shares to Google International LLC following which Google International LLC holds 7.73% of the fully diluted equity share capital of Jio Platforms Limited, according to the RIL official statement.
Till now, Jio received Rs 1,18,319 crore from the other investors that include Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund, Intel Capital & Qualcomm Ventures.
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