How much did Google invest in Reliance?
Table of Contents
How much did Google invest in Reliance?
Google had invested a whopping Rs 33,737 crore in Reliance industries digital subsidiary, Jio Platforms Ltd.
The Ambani family holds around 45\% of the shares in RIL. Since its inception, the company was managed by its founder and chairman Dhirubhai Ambani.
How did Jio raised billions without paying tax?
The redemption of OCPS held by RIL is essentially repayment of funds earlier infused by RIL into Jio Platforms, and will not attract tax. Jio Platforms could retain a portion of the funds for its own purposes. Since it was Jio Platforms that issued the shares, RIL will not have to pay tax on the stake sale.
Why did Google pay for Jio?
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 nternet users in India.
How did Ambani avoid taxes?
The conglomerate has regularly used carried-forward losses, non-taxable subsidiaries and additional allowances to reduce its tax liability. The company paid nil corporate tax between 1971 and 1996 despite being one of the most profitable companies.
How did RIL and Jio raised?
Reliance Industries (RIL) had announced the largest and fastest fund-raise in the industry between April 22 and July 15. A sum of Rs 1.5 lakh crore was raised through a stake sale of about 33 per cent in its subsidiary, Jio Platforms, to 13 marque foreign investors.
How much has Google invested Jio?
Joining the elite list of investors, such as Facebook, Google has now paid ₹33,737 crores to Jio Platforms Limited, a subsidiary of the Mukesh Ambani-owned Reliance Industries Limited (RIL). With this investment, Google owns a 7.73\% stake in Jio.
Will Facebook buy a 10\% stake in Reliance Jio?
Shares of Reliance Industries (RIL) advanced 14 per cent in Wednesday’s trade after reports that social media giant Facebook is in talks to buy a 10 per cent stake in Reliance Jio, billionaire Mukesh Ambani’s telecom and internet services venture.
In November 2009, Reliance Industries issued 1:1 bonus shares to its shareholders. In 2010, Reliance entered the broadband services market with acquisition of Infotel Broadband Services Limited, which was the only successful bidder for pan-India fourth-generation (4G) spectrum auction held by the government of India.
What is the new symbol of Reliance Industries Ltd (RIL)?
The Rs 53,124 crore rights issue of Reliance Industries Ltd (RIL) received an overwhelming response from investors and now the partly paid-up rights shares are set to debut on bourses on June 15. The partly paid-up shares will be separately listed under RELIANCEPP symbol.
How many subsidiary companies does Reliance Industries have?
On 31 March 2013, the company had 158 subsidiary companies and 7 associate companies. Reliance Retail is the retail business wing of the Reliance Industries. In March 2013, it had 1466 stores in India.