Reliance Industries Limited (RIL) has become one of the most valuable companies around the globe. Recently, the company held its 43rd AGM and announced the current working and future prospects of the company. RIL is planning to remodel itself as an emerging consumer tech player apart from the oil and gas business. The company has already started to create its space in the tech market. Reliance Jio platforms have nearly attracted $20 billion investment from different multinational companies. Now the company is planning to monetise its assets under the JioFiber platform. As per reports, Doha-based sovereign wealth fund Qatar Investment Authority (QIA) is planning to invest Rs 11,200 crore into JioFiber.
Reliance JioFiber Assets Will be Monetised from the Potential Deal with QIA
RIL unveiled its future prospects to make Jio an asset-light digital services company. The reports which reveal that QIA is planning to invest in JioFiber platform will monetise the assets of the platform and aid to the vision of RIL in remodelling to tech business. RIL has reportedly hired Citigroup Global Markets, Moelis and Co. and ICICI as investment bankers for the potential deal.
Google Invested Rs 33,737 Crore in Jio Platforms
Reliance Jio has attracted various investment from foreign companies. Recently, Jio platforms have signed a whopping Rs 33,737 crore deal from Google in exchange for a 7.7% stake in the company. Under the deal, Google and Jio platforms together will launch affordable 4G and 5G smartphones in the Indian market. Google will provide optimisation to its Android operating system and Play Store for the smartphones which Jio will launch in the market. From the deal, Jio and Google will address low-income users who have not owned a smartphone, or they are hesitant to switch from cheap feature smartphone. Jio platforms have also signed its largest deal with instant messaging giant Facebook. Jio platforms have received Rs 43,574 crore from Facebook in exchange for a 9.99% stake in the company. The deal is said to be the largest foreign direct investment in the technology sector in India. The deal between Jio and Facebook will focus on 60 million small businesses across India and give them a new direction which will help them to grow in the digital economy.
