Alphabet Inc’s Google has paid Rs 33,737 crore for a 7.73 percent stake in Reliance Industries’ (RIL) digital subsidiary, Jio Platforms, joining the list of global investors such as Facebook. The transaction also marks the US technology giant’s biggest-ever investment in an Indian company.
With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 percent stake to 13 financial and strategic investors in just 11 weeks. This has helped RIL erase its net debt much ahead of the March 2021 target.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
