For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

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.

Intel To Invest Rs 1,894.50 Crore In Jio Platforms
 

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.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more