In Reliance AGM Google to invest Rs 33,737 crore for 7.7% stake in Jio Platforms, says Mukesh Ambani. The world’s sixth bigwig Mukesh Ambani said on Wednesday, “We are delighted to welcome Google as a strategic investor in JioPlatforms. We have signed a binding partnership and investment agreement under which Google will invest Rs 33,737 crore for a 7.7% stake in Jio Platforms” in Annual General Meeting. He stated it increases the net worth of Reliance within three months up to Rs212,809 crore.
Ahead of all over the investors from the world, including Facebook and KKR, have already invested Rs 1.17 lakh crore in RIL’s Jio Platforms. It adds with Rs53,124 crore to issue rights and investment by Bharath Petroleum in fuel retailing venture. “It is in excess of our net debt Rs161,035 crore at the end of FY 19-20″, he mentioned.
He also pointed out some other details about his goals towards March 2021. By the way, now Reliance is a zero net debt company. Further, it holds a highly impeccable Balance sheet that will assist the growth of Jio, Retail and O2C.
“Reliance has concluded its JV with BP in the existing fuel retailing business. BP has invested Rs 7,629 crore for their 49 per cent stake in the JV”, he said.
Google also said it would spend around Rs 75,000 crore for India’s digital growth in the next five to seven years. This equal investment will be well-planned support in the future.
Even in this Pandemic, RIL’s owns shareholders from 500 locations across India and foreign incorporation also.
|For Online Test Series||Click Here|
|To Join Whatsapp ||Click Here|
|To Subscribe Youtube||Click Here|
|To Join Telegram Channel||Click Here|
|To Join Facebook||Click Here|