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Google to buy 7.73% stake in Jio Platforms

Posted bySumit Arora Published On July 16th, 2020 Leave a comment on Google to buy 7.73% stake in Jio Platforms
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Google to buy 7.73% stake in Jio Platforms_4.1

IT giant, Google to buy 7.73% stake in Reliance Industries Limited(RIL)’s Jio Platforms for Rs 33,737 crores. For this purpose, they have signed a binding partnership and an investment agreement. This investment will strengthen the existing efforts of Google and Jio Platforms to expand the benefits of digitization across India.

According to exchange filing, Google is investing at an equity valuation of Rs 4.36 lakh crore. With this, the total investment from financial and strategic investors into Jio Platforms stands at Rs 1,52,056 crore.

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Other agreement b/w Google and Jio Platforms

  • The Jio Platforms and Google have signed a commercial agreement to jointly develop an entry-level affordable smartphone with an update to the Android operating system and Play Store.

Important takeaways for all competitive exams:

  • RIL of Headquarters: Mumbai, Maharashtra.
  • Chairman & Managing Director of RIL: Mukesh D. Ambani.
  • Google Headquarters: California, United States.
  • CEO of Google: Sundar Pichai.

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About the Author
Sumit Arora
Sumit Arora
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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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