The transaction comes after the Competition Commission of India (ICC) recently approved Google’s investments in Jio platforms and the partnership to develop affordable 4G and 5G Android-based smartphones.
“We hereby inform that, after receiving all necessary approvals, Jio Platforms Limited, a subsidiary of the Company, today received the subscription amount of Rs 33,737 crore from Google International LLC (a wholly owned subsidiary of Google LLC)” RIL informed EEB late Monday.
Jio Platforms has assigned capital shares to Google International LLC, after which Google International LLC owns 7.73% of the fully diluted share capital of Jio Platforms Ltd, according to the statement.
RIL shares closed 0.7% higher at Rs 1,965.10 on the EEB on Tuesday.
With this, Jio Platforms has received all the funds from its 13 investors who together have injected Rs 1,52,056 crore for a cumulative equity stake of 32.96%.
Other major investors in Jio Platforms include Facebook, which earned the highest stake of 9.9% for Rs 43,574 crore, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund, Intel Capital and Qualcomm Ventures.
Jio Platforms houses RIL’s digital assets, which include broadband connectivity, cloud and edge computing, big data analytics, and artificial intelligence.
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