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Intel invests 1,894 crore in Reliance Jio
Billionaire Mukesh Ambani's Reliance Industries on Friday said it has secured Rs 1,894.50 crore from Intel Capital by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.17 lakh crore.
New Delhi: Billionaire Mukesh Ambani's Reliance Industries on Friday said it has secured Rs 1,894.50 crore from Intel Capital by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.17 lakh crore.
The investment arm of computer chip giant Intel Corp picked up 0.39 per cent stake in Jio Platforms Ltd - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps. Intel Capital, which is the 12th marquee firm to invest in the digital unit, values Jio Platforms at Rs 4.91 lakh crore, the company said in a statement. "Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore," it said.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "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". The Jio Platforms deal spree began on April 22 with Facebook investing Rs 43,573.62 crore in the company for a 9.9 per cent stake. Since then deals have been announced regularly with likes of General Atlantic, KKR, Mubadala, Silver Lake, ADIA buying stake in Jio Platforms.
