Reliance Industries and Jio Platforms, a digital services platform, has announced an investment of Rs 1,894.50 crore by Intel Capital.
Intel Capital will invest 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 percent equity stake in Jio Platforms on a fully diluted basis.
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. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.
Jio Platforms has made investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.
Intel Capital is the investment arm of Intel Corporation. It invests globally in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G – opportunities where Jio is also innovating and investing for growth.
The transaction is subject to regulatory and other customary approvals. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.
