Reliance Industries’ arm signs binding agreements with Google International LLC
15th Jul 2020

Reliance Industries’ wholly-owned subsidiary -- Jio Platforms has signed binding agreements with Google International LLC pursuant to which Google would invest Rs 33,737 crore for a 7.73% equity stake in Jio Platforms on a fully-diluted basis. Google is investing at an equity valuation of Rs 4.36 lakh crore. The transaction is subject to customary regulatory approvals.

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.