Mumbai, July 13 2020: Reliance Industries Jio Platforms, continues to see investors pump in money for a stake in the company:
The 12th such investor in recent weeks is mobile and 5G tech provider Qualcomm, who has just paid Rs 7.3 billion for a 0.15% stake.
This brings total investments in Jio to just over 25%. How all this money will translate will be seen two days from now when Reliance holds its annual general meeeting -- virtually this time.
Jio Platforms, a majority-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.