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The search engine giant Google LLC announced a binding agreement with Jio Platforms Limited a subsidiary of Reliance Industries, for an investment of approximately $5 billion. Google’s investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.

  • The investment will build on Jio’s and Google’s existing efforts to expand the benefits of digitization across the length and breadth of India.
  • Jio Platforms and Google 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.

The major deals and supports by Reliance Industries are featured below:

July 2020: The wireless technologies leader Qualcomm Incorporated announced that its investment arm Qualcomm Ventures to invest approximately $110 million in Jio Platforms a leading digital platform provider in India. Qualcomm Ventures’ investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis.

July 2020: The global energy company bp and India’s Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
July 2020: Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries announced that Intel Capital will invest approximately $285 million in Jio Platforms. Intel Capital’s investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.

June 2020: Jio Platforms Limited, a wholly-owned subsidiary of Reliance Industries announced that global alternative asset firm TPG will invest approximately $683 million in Jio Platforms.

June 2020: Reliance Industries subsidiary Jio Platforms announced that Abu Dhabi state fund Mubadala Investment Co. of UAE will purchase around 1.85% stake of Jio Platforms, for approximately $1.21 billion.

May 2020: Jio Platforms, announced that KKR will invest approximately $1.7 billion into Jio Platforms. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.

May 2020: Jio Platforms Limited announced an investment of around USD 990 million by a leading global growth equity firm General Atlantic. General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.

May 2020: Jio Platforms Limited had announced that Vista Equity Partners will invest $1.7 billion into the company. Texas based Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.

May 2020: Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.

April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.

April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to India’s PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nation’s service daily.

About Jio Platforms Limited
Jio Platforms Limited is a world-class digital platform provider, headquartered in India. It is a wholly-owned subsidiary of Reliance Industries Limited. It is a next-generation technology company building a Digital Society for India by bringing together Jio’s leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella in India. Jio provides digital platform and technologies such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence and Internet of Things.

About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RIL’s activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The company’s products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.

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