wordpress blog stats
Connect with us

Hi, what are you looking for?

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:

Advertisement. Scroll to continue reading.
Investor [Stake%] Amount (₹)
Facebook [9.9%] 43,574 crore (US$5.7 billion)
Silver Lake (12) [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 Investment Fund [2.32%] 11,367 crore (US$1.5 billion)
Intel Capital [0.39%] 1,894.50 crore (US$250 million)
Qualcomm Ventures [0.15%] 730 crore (US$97 million)
Google [7.7%] 33,737 crore (US$4.5 billion)

 

Written By

I cover the digital content ecosystem and telecom for MediaNama.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ