Davis Polk is advising Reliance Industries Limited and Jio Platforms Limited in connection with binding agreements entered into with Google LLC for an investment of ₹33,737 crore by Google into Jio Platforms. Google’s investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.

Reliance Industries Limited is India’s largest private sector company. Jio Platforms is a majority-owned subsidiary of Reliance Industries Limited.

Concurrent with the investment, Jio Platforms and Google have also entered into a commercial agreement. The transaction is subject to regulatory and other customary approvals.

The Davis Polk corporate and intellectual property and technology transactions team includes partners Jeffrey R. O’Brien, Leo Borchardt and Pritesh P. Shah, counsel Matthew J. Bacal and associates Alexander W. Simmonds, Ben Stewart, Fiona Tregeagle, Maxim Van de moortel, Christopher C. Woller, Samantha Lefland and Jordan Jacobs. Members of the Davis Polk team are based in the London and New York offices.