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Intel to invest Rs 1,895 crore in Jio Platforms for 0.39pc stake | Intel to invest Rs 1895 crore in Jio Platforms, will buy 0.39 percent stake

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Intel to invest Rs 1,895 crore in Jio Platforms for 0.39pc stake

new Delhi. US-based multinational company Intel has also announced an investment of Rs 1894.50 crore in Reliance Industries' technology company Jio Platforms. This will be the 12th high-profile investment in Jio platforms in less than three months. The deal would give Intel a 0.39 percent stake in Jio Platforms. Reliance Industries has so far sold 25.09 per cent stake in Jio platforms to 12 global investors and has raised a total of Rs 117,588.45 crore from these 12 investors.

Intel made this investment on Jio's equity value of Rs 4.91 lakh crore and enterprise value of Rs 5.16 lakh crore. With this investment, Jio Platforms raised Rs 117,588.45 crore from leading technology investors such as Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, El Caterton, PIF and Intel is. Jio Platforms has become the first company in the world to receive continuous investment.

Intel to invest Rs 1,895 crore in Jio Platforms for 0.39pc stake

The fresh investment, despite the slowdown in the global economy, expresses the confidence of global investors in India's digital capability and Jio's business strategy. Intel is a leading company in the field of technology, which is known all over the world for its innovation. Intel has invested in Jio platforms through Intel Capital. Earlier Saudi Arabia's sovereign wealth fund PIF invested Rs 11,367 crore in Geo Platforms, giving it a 2.32 per cent stake.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, "We are very happy to deepen our collaboration with technology leaders." We are thrilled to be working with Intel. This partnership will empower all sectors of our economy and will work to improve the quality of life of 1.3 billion Indians.

This post was published on July 3, 2020 9:52 am

Content Team

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