A day after media reports suggested that Google will be acquiring a stake in Reliance Industries, Mukesh Ambani, chairman and MD, Reliance Industries, confirmed the news during an annual general meeting.
Google will be investing Rs 33,737 crore to get a 7.7 per cent stake in Jio Platforms. This transaction is subject to regulatory and other customary approvals.
Earlier this week Google's CEO Sundar Pichai had announced that the company is looking to invest Rs 75,000 crore in India in the next five to seven years.
Reliance has now raised Rs 1,52,056 crore in Jio Platforms in the last few months.
