- Jio Platforms Limited today announced that Intel Capital will invest some 1,894.50 crores in Jio Platforms with acquiring 0.39 percent stake.
Reliance Industries Limited and Jio Platforms Limited today announced that Intel Capital will invest some 1,894.50 crores in Jio Platforms at an equity value of 4.91 lakh crore and corporate value of 5.16 lakh crore, respectively. The investment by Intel Capital would translate entirely diluted into a 0.39 percent equity stake in Jio Platforms.
The deal with Intel Capital — the 12th such investment in 11 weeks — brings to 25.09 percent the total stake RIL sold in Jio Platforms.
Intel Capital joins the list of marquee companies that have recently invested in Jio Platforms, taking the total investment to a crore of about 117,588.45. Reliance Industries’ wholly-owned subsidiary Jio Networks has over 388 million subscribers. Jio Has made significant investments through its digital ecosystem, fuelled by leading broadband networking technology, smart devices, cloud and edge computing, big data analytics, artificial intelligence, the Internet of Things, virtual and mixed reality, and blockchain.
Globally, Intel Capital invests in innovative businesses with a focus on disruptive technology areas such as cloud computing, artificial intelligence, and 5 G – opportunities where Jio also innovates and invests for growth. Intel Capital is Intel Corporation’s investment arm, a leader in the semiconductor industry, shaping the data-centered future with computing and communications technology which is the foundation for global innovations. Intel has been working in India for more than two decades and today employs thousands of workers in Bengaluru and Hyderabad with state-of-the-art design facilities there.
“We are extremely pleased to deepen our relations with technology leaders who embody our dream of transforming India into the world’s leading digital society. Intel is a true pioneer in the industry, working to develop technologies and inventions that change the world. Intel Capital has an excellent record of being a trusted partner for world-leading technology companies. Therefore we are excited to work with Intel to advance the capabilities of India in cutting-edge technology that will empower all sectors of our economy and enhance the quality of life of 1.3 billion Indians, “said Mukesh Ambani, Chairman of Reliance Industries.
“Jio Platforms’ focus on using its impressive engineering capabilities to bring low-cost digital services to India aligns with Intel’s goal of delivering life-enriching, breakthrough technology. We believe that digital connectivity and data can boost business and society. Through this investment, we ‘re excited to help drive the digital transformation in India where Intel’s presence is important.
Morgan Stanley served as Reliance Industries and AZB & Partners and Davis Financial Advisor.
