Intel Capital, US largest semiconductor company, will invest Rs. 1,894.50 crore for a 0.39 percent stake in Jio Platforms.
It is the record 12th investment deal in 11 weeks and this marks a company’s largest continuous fundraising activity anywhere in the world. In a series of investment deals, Reliance Industries Limited has now sold 25.09 percent stake in Jio Platforms and raised Rs. 1,17,588.45 crore.
All investments were finalized in the middle of a global lockdown, a reference to the immense digital potential of India, and a clear affirmation of Jio’s aggressive policy, tech skills, transformative corporate structure, and structural long-term growth prospects.
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.
Mukesh Ambani (Reliance Industries)
Investment by Intel’s comes at an equity valuation of Rs. 4.91 lakh crore and enterprise valuation of Rs. 5.16 lakh crore. This investment is followed by the investment of PIF of a 2.32 percent stake for Rs. 11,367 crore which happened a few weeks ago.
Facebook bought a 9.99 percent stake for Rs. 43,574 crore on April 22 which started the series of investments in Jio Platforms. After that, General Atlantic, Silver Lake (two investments), Vista, KKR, Mubadala, ADIA, TPG, L Catterton and PIF have also spent their capital in Jio.
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.
Wendell Brooks, President, Intel Capital
With nearly 400 million subscribers, Jio Platforms is a next-generation technology platform focused on providing high-quality, affordable digital services across India.
Jio has made substantial investments through its digital ecosystem, powered by leading mobile networking technology, smart apps, edge and cloud technology, big data analytics, AI, IoT, virtual / augmented reality and blockchain.
Visit our website daily for latest tech news. Follow Us on Instagram for awesome tech stuff. Also, Join our Telegram Group and connect directly with Admin.