Now, Intel Capital to invest $253.4 mn in Jio Platforms
DIGITAL PUSH RIL has sold a total of 25.09% stake, raising ₹1.17 lakh crore
MUMBAI: Intel Capital, the investment arm of US chipmaker Intel, will invest ₹1,894.50 crore ($253.4 million) for a 0.39% stake in Jio Platforms, becoming the 11th entity to invest in the digital services business of Reliance Industries Ltd (RIL) in less than three months.
The deal values Jio Platforms at an equity value of ₹4.91lakh crore and an enterprise value of ₹5.16 lakh crore, RIL said in a note.
“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 cuttingedge technologies that will empower all sectors of our economy,” said Mukesh Ambani, chairman and managing director, RIL.
With this, RIL has sold a total of 25.09% stake in Jio Platforms to Facebook, General Atlantic, TPG, KKR, Silver Lake, L Catterton, Vista Equity Partners, Abu Dhabi Investment Authority, Mubadala Investment Company,
Public Investment Fund and Intel Capital, raising ₹1.17 lakh crore.
Jio Platforms has over 388 million subscribers and significant investments across its digital ecosystem.
On Thursday, Jio Platforms launched JioMeet, a video-conferencing service that offers unlimited calls with “up to 24
INTEL CAPITAL JOINS 10 OTHER INVESTORS INCLUDING FACEBOOK AND GENERAL ATLANTIC
hours” time limit on each session.
“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,” said Wendell Brooks, Intel Capital president.
Morgan Stanley acted as financial advisor to RIL and AZB & Partners was legal advisor.