Intel Capital is the 12th company to join the
list of marquee firms who have recently invested in Jio Platforms, taking the
total investment amount to Rs 1,17,588.45 crore.
Electronic chip maker
Intel's investment arm, Intel Capital, will buy 0.39 per cent stake in
billionaire Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore,
the company said on Friday.
Intel Capital is the
12th company to join the list of marquee firms who have recently invested in
Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore.
"Intel Capital 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 per cent equity stake in Jio Platforms on a fully
diluted basis," Reliance Industries and Jio Platforms said in a joint
statement.
Jio Platforms, a
wholly-owned subsidiary of Reliance Industries, also runs Reliance Jio telecom
business. Jio leads the India market with over 38.8 crore subscribers.
"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," Mukesh Ambani, Chairman and Managing Director of Reliance
Industries, said.
Wendell Brooks, Intel
Capital President, said that Jio Platforms' focus on applying its impressive
engineering capabilities to bring the power of low-cost digital services to
India aligns with Intel's purpose of delivering breakthrough technology that
enriches lives.
"We believe digital
access and data can transform business and society for the better. Through this
investment, we are excited to help fuel digital transformation in India, where
Intel maintains an important presence," Brooks said.
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