Jio Platforms Ltd. receives Rs.33,373 crore subscription from Google International LLC for a fully diluted share capital of 7.73 percent.

Earlier in July, Google entered into an agreement to invest $4.5 billion in Jio Platforms in lieu of 7.73 percent stake. This being Google For India Digitization Fund’s first investment.

Google and Jio Platforms have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store.

Jio Platforms is the subsidiary of Reliance Industries Ltd. (RIL). The company has received investments from global investors including companies like Facebook, General Atlantic Singapore, Abu Dhabi Investment Authority, Mubadala, Silver Lake, Vista Equity Partners and several others.