Categories: Business

Qualcomm Ventures to invest 730 cr in Jio platforms


Qualcomm Ventures to invest 730 cr in Jio platforms

new Delhi. Today, another new name has been added to the list of investors of Jio Platforms. Reliance Industries has today informed that the investment arm of Qualcomm Incorporated will invest Rs 730 crore in Qualcomm Ventures Jio. The company will buy a 0.15 per cent stake in Jio by investing. On an investment basis, the equity value of Jio is Rs 4.91 lakh crore and the enterprise value is Rs 5.16 lakh crore.

According to Reliance Industries, this tie-up will help in pushing Jio's plan to introduce 5G services to Indian customers. After the announcement, RIL Chairman Mukesh Ambani said that and Qualcomm has deep technical understanding that will help Jio achieve the goals set for India's digital transformation with 5G technology.

Investors continue to invest in the Jio platform. Recently Intel Capital announced a 0.39 per cent stake in jio Platforms with an investment of Rs 1894.5 crore. The company is a unit of the tech company Intel. So far, 12 investors have joined Jio in the purchase of shares starting from April. During this period, Jio has received more than Rs 1.15 lakh crore from investors. Out of this, 4 investors have also completed their deal with Facebook.

The process of investing in Jio Platforms started on 22 April. Facebook first bought a 9.99 percent stake in Jio Platforms for Rs 43,574 crore on 22 April. A few days after the deal, Silver Lake, the world's largest tech investor, bought a 1.15 percent stake in Jio Platforms for Rs 5,665.75 crore. Subsequently, US-based Vista Equity Partners bought a 2.32 percent stake in Jio Platforms for Rs 11,367 crore on May 8. Global equity firm General Atlantic acquired 1.34 percent stake in the company on May 17 for Rs 6,598.38 crore. Subsequently, American equity investor KKR bought a 2.32 percent stake for Rs 11,367 crore. On June 5, Abu Dhabi's Savren Property Fund Mubadla and private investment company Silver Lake also invested. Mubadla invested Rs 9,093.60 crore for a 1.85 percent stake in Jio Platforms, while Silverlake made another fresh investment of Rs 4,546.80 crore for an additional 0.93 percent stake in Jio Platforms. This led to a total investment of Rs 10,202.55 crore and a total stake of 2.08 percent by Silver Lake in Jio platforms. The Abu Dhabi Investment Authority (AIDA) also invested Rs 5,683.50 crore for a 1.16 percent stake in Jio Platforms.

This post was published on July 12, 2020 10:22 pm

Content Team

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