Reliance Industries Limited subsidiary Jio Platforms Limited (JPL) received the subscription amount of Rs33,737cr from Google International LLC. Jio Platforms has allotted equity shares to Google International LLC following which Google International LLC holds 7.73% of the fully diluted equity share capital of Jio Platforms Limited.
Earlier, the Competition Commission of India (CCI) had approved Google picking up 7.73% stake in Mukesh Ambani-led Jio Platforms for Rs33,737cr, facilitating the internet major and JPL to develop and launch Android smartphones in India.
“After receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, on Monday received the subscription amount of Rs33,737cr from Google International LLC (a wholly owned subsidiary of Google LLC).
The company had informed the exchanges about Google investment of Rs33,737cr in Jio Platforms for a 7.73% stake dated July 15, 2020.