The annual general Meet of the India's biggest industry "Reliance" held on 17th July 2020. You might be thinking that in this pandemic situation, how the meeting was held, will there comes use of technology. The whole meeting got held in the virtual way. Mr. Mukesh Ambani along with his wife and children was present in the auditorium, and the whole meeting was virtually telecasted on their own digital platform "Jio Meet" which doesn't have any viewers limit nor the timing. All you have to do was just participant in the meeting.The meeting's recording was also telecasted on youtube and can be viewed later too.
There were some big announcements about the products. Reliance going to launch and the major investors in the Reliance family. With no further delay, let us get started. First of all let us see the investors list who have invested in the Reliance groups. The Reliance groups most successful is Jio.
Last month Mark Zuckerberg, CEO of Facebook, a global technology powerhouse and a leading social media and internet company has joined Jio as premier strategic partner. After facebook, some of the most admired technology and financial investors in a global basics also invested whom were Silverlake, Vista Equity Partners, General Atlantic, KKR, TPG and L Catterton. All of these companies have a long history of successfully investing in the best of technology and growth enterprises in the world. Along with these, two giants "Intel" and "Qualcomm ventures" who have shaped the semiconductor industry are at the heart of digital ecosystems with whom Mr.Ambani said he will bring new products for his country India and Indians.Adding to that, he says he is looking forward to work with each of them in collaborative way to build a jio platform portfolio of the technology and solutions.
This list is not over yet as for the next, Jio welcomed their 3 New partners. The three of the world's largest sovereign wealth funds ADIA & Mudadala of the UEA and PIF of Saudi Arabia as Jio's valued partners.Mr.Ambani added to this that these funds not just brings money but faith in the Indian economies immense growth potential and they also brings strong confidence in Company's noble mission and it's executive ability.
This ends the capital cycle raising of the company and after this comes another tech giant into the platform Mr. Sundar Pichai, i meant the Google because whenever we Indians hear the word Google, we have Mr. Sundar Pichai's name as an echo. Okay, sarcasm apart, let us cut to the point. Google has joined Jio as a strategic partner after a month, the facebook joined the Jio. Google, which has pioneered the search engine and the operating systems that are used across the world. It has signed a binding partnership and an investment agreement with Jio under which google is investing 33,737 crores which is nearly $4.5billion for a 7.7% stake in Jio platforms.
This ends the capital cycle raising of the company and after this comes another tech giant into the platform Mr. Sundar Pichai, i meant the Google because whenever we Indians hear the word Google, we have Mr. Sundar Pichai's name as an echo. Okay, sarcasm apart, let us cut to the point. Google has joined Jio as a strategic partner after a month, the facebook joined the Jio. Google, which has pioneered the search engine and the operating systems that are used across the world. It has signed a binding partnership and an investment agreement with Jio under which google is investing 33,737 crores which is nearly $4.5billion for a 7.7% stake in Jio platforms.
With this investment by google, strategic and financial investors have committed a total of 1,52,056 crores rupees in the Jio platforms.
Thus this along with other investments, the cumulative capital raised is 2,12,809 crore rupees which unprecedented in the history of capital markets in India. With this investments, Reliance has become a Zero net debt company.
Thus this along with other investments, the cumulative capital raised is 2,12,809 crore rupees which unprecedented in the history of capital markets in India. With this investments, Reliance has become a Zero net debt company.
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