Reliance Industries Limited and Jio Platforms announced today that Intel Capital will invest Rs 1,894.50 crore in Jio platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore as per Jio latest news. Intel Capital's investment will translate into a 0.39% stake in Jio platforms on a fully diluted basis.
The deal with Intel Capital, the 12th such investment in 11 weeks, raises the total stake that RIL has sold in Jio Platforms to 25.09 percent.
Intel Capital joins the list of marquee firms that have recently invested in Jio platforms, bringing the total amount of the investment to ₹ 117,588.45 crores. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, has more than 388 million subscribers. According to Jio latest news, Jio Platforms has made significant investments in its digital ecosystem, backed by pioneering technologies including broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, the Internet of Things, augmented and mixed reality, and blockchain.
Intel Capital invests globally in innovative companies with a focus on disruptive technology areas such as cloud computing, artificial intelligence and 5G, opportunities in which Jio also innovates and invests to grow. Intel Capital is the investment arm of Intel, a leader in the semiconductor industry, and shapes the future based on data using communications and computing technology that forms the foundation of global innovation. Intel has been operating in India for more than two decades, and today employs thousands of employees there with modern design facilities in Bangalore and Hyderabad.
"We are excited to deepen our relationships with technology leaders who embody our vision of transforming India into a leading digital community in the world. Intel is a leader in this field, working to create globally changing innovations and technology. Intel Capital has a track record Outstanding as a Valuable Partner to the World's Leading Technology Companies Therefore, we are excited to work with Intel to develop India's capabilities in advanced technologies that will enable all sectors of our economy and improve the quality of life for 1.3 billion Indians. ", Mukesh Ambani, CMD of Reliance Industries said.
According to Jio latest news, Jio Platforms is focused on applying its outstanding engineering capabilities to bring the power of low-cost digital services to India online with Intel's goal to deliver innovative technology that enriches life. We believe that digital and data access can improve companies and society. Through this investment, we are pleased to help support digital transformation in India, where Intel maintains a significant presence. "
Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis.
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