Quick Answer: Is Google investing in Jio?

Is Google investment in Jio?

Alphabet Inc’s Google has paid ₹33,737 crore to Reliance Industries Ltd’s (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook to have infused capital in the Mukesh Ambani-led company. With this transaction, Google now holds 7.73% stake in Jio Platforms.

Why is Google invested in Jio?

Alphabet Inc’s Google paid Rs 33,737 crore to Reliance Industries’ Jio Platforms, as its biggest-ever investment in an Indian company. … The investment is aimed to develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store.

Is Google buying stake in Jio?

The Competition Commission of India (CCI) has said that it has approved Google picking up 7.73% stake in Mueskh Ambani-led Jio Platforms for ₹33,737 crore, facilitating the internet major and Jio Platforms Ltd (JPL) to develop and launch Android smartphones in India.

Which company has invested in Jio?

On 13 June, TPG Capital, an investment company, took stake in Jio platform of 0.93% worth ₹45.468 billion (US$640 million). Catterton also made an investment of ₹18.945 billion (US$270 million) for a 0.39% stake.

How can I invest in Jio platform?

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.

How much does Google invest in Jio?

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.

Who invested in Jio in 2020?

Before Retail Retail, RIL had raised about Rs 1.52 lakh crore for Jio Platforms from global investors, including Facebook, Google, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund of Saudi Arabia, Intel Capital and Qualcomm Ventures, for a total …

What did Google just put 4 billion into?

Google in talks to invest $4 billion in Reliance’s digital arm, Bloomberg reports. BENGALURU (Reuters) – Alphabet Inc’s Google is in advanced talks to invest $4 billion for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd, Bloomberg reported on Tuesday, citing people familiar with the matter.

What has Ambani invested?

Billionaire Mukesh Ambani on Thursday announced a ₹75,000 crore investment in setting up four ‘Giga’ factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.

Which company has recently acquired 7.73 stake in Jio platforms?

Google has become the latest high-profile firm to back India’s Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday.

How much did Mukesh Ambani invested for Jio?

Interestingly, Google’s $4.5 billion cheque and Facebook’s $5.7 billion investment were a cheaper deal than the rest.
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Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake ⁠— here’s why.

Who is the Jio owner?