The Reliance Industries (RIL) Chairman and Managing Director, Mukesh Ambani, on Wednesday announced that the company has successfully met its capital raising target. The company now seeks to add only a strategic partner, he said.
At the RIL's 43rd Annual General Meeting (AGM), Ambani said that Google will invest Rs 33,737 crore for 7.7 percent stake in Jio Platforms.
Thirteen other global investors have already invested in Jio Platforms, including Facebook, KKR, Intel and Qualcomm.
The company has raised a total of Rs 2.12 lakh crore through the Rights Issue, British Petroleum deal and stake sales in Jio Platforms, the RIL Chairman added.
On June 19, RIL said it had become net-debt free before its target date of March 31, 2021.
At the AGM, Ambani also said Jio is working on a 5G product, will be available for trials as soon as spectrum is available.
"Jio Platforms will be positioned for 5G solution to other telecom operators," he said.
The company's newly launched video-conferencing app JioMeet been downloaded by over 500 million users.
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