Reliance Industries Slips 1% After Jio Platforms Receives Google Deal Amount

Business News Today,24th November 2020:Reliance Industries said its subsidiary, Jio Platforms, received the subscription amount of ₹ 33,737 crore from Google International LLC, as part of the deal announced in July wherein the internet major agreed to purchase a 7.73 per cent stake in the RIL unit. The shares of Reliance Industries slipped by 1 per cent on the BSE to touch an intra-day low of ₹ 1,921.20 in early trading. At 10:45 am, the shares were trading lower by 0.4 per cent at ₹ 1,971.80 on the BSE.

Reliance Industries Slips 1% After Jio Platforms Receives

Reliance Industries Chairman Mukesh Ambani had announced at the group’s 43rd, and first-ever virtual annual general meeting, held on July 15 that Google would invest ₹ 33,737 crore for a 7.7 per cent stake in Jio Platforms.

Reliance Industries chairman Mukesh Ambani had announced at the group’s 43rd, and first-ever virtual annual general meeting, held on July 15 that Google would invest ₹ 33,737 crore for a 7.7 per cent stake in Jio Platforms. This investment by Google valued Jio Platforms at an equity value of ₹ 4.36 lakh crore.

Jio Platforms is the digital services arm of Reliance Industries, which houses telecom company Reliance Jio Infocomm.

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