After Facebook, Intel, Qualcomm, and many others, now Google invests in Jio. The US-based internet giant Google will acquire 7.7% stake in Jio Platforms by investing Rs 33,737 crores (US$4.5 billion), Mukesh Ambani, chairman of the Indian group, said today.
Reliance Group has raised Rs 2.12 lakh cr (trillion) in recent weeks as part of an attempt to make it a zero-debt company before next year.
The company is already debt-free and now it appears that Mukesh Ambani has set its eyes on the IPO of Jio Platforms, that could be launched next year.
“Out target for capital raising is now complete, and we now look forward to only adding strategic partners who share our vision,” Mukesh Ambani said.
It’s quite fascinating to learn that Jio Platforms will become one of the rare companies in the world where both Facebook and Google are holding stakes.
Other investors in Jio Platforms include PE firms like KKR, Silverlak, Catterton, General Atlantic, Vista Equity Partners and TPG, as well as strategic investors like Intel and Qualcomm.
Yesterday we reported about the possible investment of Google in Jio Platforms.
The investments are likely to help these companies ensure a share of the pie as Mukesh Ambani is expected to be the king of India’s broadband and communication segment.
Strategic investments by Intel, Qualcomm, Facebook, and Google will help these companies forge partnerships — such as joint products — going forward.
Mukesh Ambani said Jio Fiber has already connected 10 lakh users and will be ramped up in the coming days.
