Strategic equity investment · Enterprise software
Google agreed ₹33,737 crore investment in Jio Platforms in July 2020
The strategic equity transaction supported Jio Platforms’ digital services business in India.
A strategic investment in digital services
Reliance Industries, Jio Platforms and Google announced binding agreements on July 15, 2020 for an investment of ₹33,737 crore. The agreement represented a 7.73% stake in Jio Platforms on a fully diluted basis.
The companies also agreed to develop an affordable entry-level smartphone using Android and Google Play. The strategic partnership aimed to broaden access to digital services in India.
Reliance confirmed on November 23, 2020 that Jio Platforms had received the subscription amount and allotted shares to Google International LLC. That completion was part of the July agreement, rather than a separate financing.
Funding history
Strategic equity investment · This round₹337.4B
Strategic equity investment₹435.7B