Shares of Reliance Industries (RIL) pared most of their day’s losses on reports that US tech giant Google is in advanced talks to invest $4 billion in Jio Platforms.

The scrip traded 0.28 per cent down at Rs 1,928 at around 1.43 pm (IST), while the benchmark BSE Sensex was down 1.53 per cent at 36,102. Shares of the energy-to-telecom behemoth opened the day at Rs 1,934 and hit an intraday high and low of Rs 1,941 and Rs 1,887.80 respectively.

“Google’s Jio investment could be announced in weeks,” ET Now reported quoting sources.

In the last update, billionaire Mukesh Ambani's RIL on Sunday said it has secured Rs 730 crore from wireless technology leader Qualcomm by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.18 lakh crore.

“Qualcomm Ventures’ investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement.

The investment, the company said, will deepen the ties with Qualcomm that will help Jio rollout advanced 5G infrastructure and services in India.

With this deal, Reliance has sold 25.24 per cent stake in Jio Platforms - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps. In total, Jio has raised Rs 1,18,318.45 crore.

Proceeds from the stake sales in Jio Platforms along with the Rs 53,124 crore raised in a rights issue in June and from sale of 49 per cent stake in its fuel retail network to BP last summer for Rs 7,000 crore, will help the company become net debt-free, Reliance announced last month, once the promised funds come in (75 per cent of the funds from the rights issue will come in next year).

As of March, Reliance had a net-debt of over Rs 1.6 lakh crore.