Intel To Invest Rs 1,894.50 Crore In Jio Platforms

On Friday, Reliance Industries Limited (RIL) in a stock exchange filing said that Intel Capital, the investment arm of Intel Corp will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will translate into a 0.39 percent equity stake in Jio Platforms on a fully diluted basis.

The transaction is subject to regulatory and other customary approvals.

According to RIL's statement, the total investment of the list of marquee firms who have invested in Jio Platforms since April now stands at Rs 117,588.45 crore.

This deal is the 12th such investment in 11 weeks wherein RIL has sold 25.09 percent stake in its digital arm to global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since 22 April 2020.

"We are extremely delighted to deepen our ties with technology leaders that embody our vision of transforming India into a leading Digital Society in the world. Intel is a true industry leader, working towards creating world-changing technology and innovations. Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally. We are therefore excited to work together with Intel to advance India's capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians," chairman and MD of RIL, Mukesh Ambani, said in a statement on the deal.