Jio Platforms receive Rs 33,737 Crore Fund Boost from Google International

Jio Platforms Ltd, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has received an amount of ₹33,737 crore from Google International LLC.

Google International, is a subsidiary of Google LLC, that holds 7.73 per cent of fully diluted share capital of Jio Platforms, RIL said in an evening exchange filing.

Previously this year in July, Google entered into an agreement to invest $4.5 billion (₹33,737 crore) in Jio Platforms in lieu of a 7.73 per cent stake. This was the first investment from Google for the India Digitization Fund.

Google and Jio Platforms have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store.

Jio Platforms Ltd is an Indian technology company established in 2019. The company owns India's largest mobile network operator Jio and other digital businesses of Reliance.

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