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

Google will invest Rs 33,737 crore in Jio Platforms (US$4.5 billion), Reliance Industries chair and managing director Mukesh Ambani announced on Wednesday during the company's online Annual General Meeting. This is Jio Platforms's second biggest external investment so far, behind Facebook's Rs 43,647 crore (US$5.7 billion) investment. This reduces Jio's equity value from Rs 4.91 lakh crore to Rs 4.36 lakh crore, per a Reliance press release. As a part of this partnership, Ambani said that Jio and Google will build a "value-engineered" Android-based mobile operating system. Google CEO Sundar Pichai confirmed in a video message that this investment is a part of the company's Google For India Digitization Fund, announced on Monday, and said that it would be the biggest investment Google will make from it. This means that 45% of Google's fund will be going to Jio. Jio has now raised Rs 1,52,055.45 crore from external investors, having crossed the one trillion rupee mark last month. On June 25, the Competition Commission of India approved Facebook’s US$5.7 billion (Rs 43,574 crore) investment in Jio Platforms to pick up a 9.99% stake. These are now all of Jio Platforms's external investors: Investor [Stake%] Amount (₹) Facebook [9.9%] 43,574 crore (US$5.7 billion) Silver Lake (1, 2) [2.08%] 10,202.55 crore (US$1.34 billion) Vista [2.32%] 11,367 crore (US$1.5 billion) General Atlantic [1.34%] 6,598.38 crore (US$870 million) KKR & Co. Ltd. [2.32%] 11,367 crore (US$1.5 billion) Mubadala [1.85%] 9,093.60 crore (US$1.2 billion) Abu Dhabi Investment Authority [1.16%] 5,683 crore (US$747 million) TPG Capital [0.93%] 4,546.80 crore (US$600 million) L Catterton [0.39%] 1,894.50 crore (US$250 million) Public…

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