Reliance Jio Q3 net profit rises 15.5 pc to Rs 3,489 cr
RIL Chairman and Managing Director Mukesh D Ambani said India is now among the leaders driving the digital revolution in the world.
RIL Chairman and Managing Director Mukesh D Ambani said India is now among the leaders driving the digital revolution in the world.
The Google-Jio deal will seek to leverage Jio and Google's existing digital services to capture the emerging digitisation market beyond the current 500 million internet users in India.
This figure excludes the $10.2 billion in strategic investments by Silicon Valley tech giants Google and Facebook.
This is the 14th investment in Jio Platforms since April 22, the date when Facebook agreed to acquire 9.99 per cent for Rs 43,573.62 crore.
RIL’s chairman and managing director Mukesh Ambani has always pitched Jio Infocomm as a tech company instead of a traditional telco.
At 12.40 pm RIL was trading at Rs 1,595 apiece, up by 0.95 per cent on the BSE. Similarly, on the NSE it was at Rs 1,595.85, up by 1.02 per cent.
Mubadala’s funding is the sixth in a series of investments in Jio Platforms over the last few weeks and it is the first sovereign wealth fund.
Jio has already raised $10.3 billion in over month from major global investors like Facebook, Silver Lake, KKR and others.
1. According to reports, the offering could take place in the next 12-24 months. 2. As of now, Reliance has not made any official comments on the issue. 3. Morgan Stanley may be appointed as the lead banker to manage company’s abroad listing.
The heavyweight stock rose by 1.58 per cent to Rs 1,482 on the BSE in opening session.
