<p class="bodytext">Google will pick up 7.7 percent stake in Reliance Industries' technology venture for Rs 33,737 crore, Mukesh Ambani said on Wednesday.</p>.<p class="bodytext">"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 percent stake in Jio Platforms," Ambani said at the company's annual general meeting.</p>.<p class="bodytext">This takes the cumulative fundraising by Reliance in less than three months to Rs 2,12,809 crore, he said.<br /><br /><a href="https://www.deccanherald.com/business/reliance-industries-agm-live-updates-ambani-announces-deal-with-google-jios-5g-solutions-and-jioglass-launched-861429.html" target="_blank"><strong>Get all the live updates of the happenings at Reliance AGM here</strong></a></p>.<p class="bodytext">This includes investments by Facebook and other investors in Jio Platforms and Rs 53,124 crore Rights Issue, and investment by BP in fuel retailing venture.</p>.<p class="bodytext">"It is in excess of our net debt of Rs 1,61,035 crore at the end of FY19-20," he said. "Reliance is now truly a zero net debt company, well ahead of my goal of March 2021. It has an extremely strong Balance Sheet that will support growth plans for its three Hyper-Growth Engines — Jio, Retail and O2C."</p>.<p class="bodytext">Reliance has concluded its JV with BP in the existing fuel retailing business. "BP has invested Rs 7,629 crore for their 49 percent stake in the JV," he said.</p>
<p class="bodytext">Google will pick up 7.7 percent stake in Reliance Industries' technology venture for Rs 33,737 crore, Mukesh Ambani said on Wednesday.</p>.<p class="bodytext">"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 percent stake in Jio Platforms," Ambani said at the company's annual general meeting.</p>.<p class="bodytext">This takes the cumulative fundraising by Reliance in less than three months to Rs 2,12,809 crore, he said.<br /><br /><a href="https://www.deccanherald.com/business/reliance-industries-agm-live-updates-ambani-announces-deal-with-google-jios-5g-solutions-and-jioglass-launched-861429.html" target="_blank"><strong>Get all the live updates of the happenings at Reliance AGM here</strong></a></p>.<p class="bodytext">This includes investments by Facebook and other investors in Jio Platforms and Rs 53,124 crore Rights Issue, and investment by BP in fuel retailing venture.</p>.<p class="bodytext">"It is in excess of our net debt of Rs 1,61,035 crore at the end of FY19-20," he said. "Reliance is now truly a zero net debt company, well ahead of my goal of March 2021. It has an extremely strong Balance Sheet that will support growth plans for its three Hyper-Growth Engines — Jio, Retail and O2C."</p>.<p class="bodytext">Reliance has concluded its JV with BP in the existing fuel retailing business. "BP has invested Rs 7,629 crore for their 49 percent stake in the JV," he said.</p>