Reliance Jio has raised almost ₹1 lakh crore (almost $13 billion) in the middle of a global lockdown with eight investments in seven weeks. While the next investment from Saudi Arabia’s sovereign Public Investment Fund is almost finalised, Reliance Jio gets to choose between Google and Microsoft for the last tranche of investments, as per the sources.

On one hand, Google is still looking for an investment chance with Reliance Jio while Microsoft too is racing along with Google to win the race with Jio, as per the sources.

“It will be either Google or Microsoft in the last tranche. Reliance Jio will have to reject one. Google or Microsoft will be investing for a 6% stake. It has to make business sense. Google has been pursuing them from the same time as Facebook,” sources say.

However, Google is also reportedly in talks with Vodafone Idea for a minority stake. Google’s interest in Vodafone had rallied the stocks of the telecom giant. The stock has doubled since the first report came on May 29.

Jio has already raised ₹97,885.65 crore by giving away 21% stake in the company

With the latest investment, Jio Platforms has an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.