Biznextindia : Two days before its 43rd Annual General Meeting (AGM) Reliance Industries has become India’s first company to cross the Rs. 12 lakh crore market valuation mark after its shares touched record high of Rs. 1911.90 in early trade on Monday.
RIL’s shares gained after the announcement that global leader in telecom technology Qualcomm will invest Rs.730 crore in jio Platforms for a 0.15 per cent stake.
This is the 13th investment in Jio Platforms in the last 12 weeks and the company has, so far, raised about Rs.1.18 lakh Crore from these foreign investments. This is also seen as the largest continuous fundraised by any company anywhere in the world. The association of Jio with Qualcomm, a global leader in 5G technology is likely to smoothen 5G rollout by jio in the country.
Qualcomm is the 3rd global technology giant after Facebook Inc and Semiconductor maker Intel to invest in Jio.