Becoming the 12th firm in less than three months to invest in Jio Platforms, the American multinational company Intel plans to pump in Rs 1,894.50 crore in the Reliance Industries digital arm that will translate into a 0.39 percent stake in the telecommunications company.
The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
With this investment, Jio Platforms has raised Rs 117,588.45 crore from leading technology investors including Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF and Intel. This makes investment in Jio Platforms the largest continuous by any company in the world.
It is to be noted that this was done amidst a global lockdown, signifying India’s digital potential and Jio’s business strategy. The latest investment further reaffirms Jio’s continuing attraction among global investors.
Intel is one of the pioneering companies in the technology space and is known for its innovation. Intel Capital, through which the company has invested in Jio Platforms, invests globally in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G – opportunities.
The last big investment in Jio was by Saudi Arabia's sovereign wealth fund PIF that invested Rs 11,367 crore for a 2.32 percent stake.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
from Firstpost India Latest News https://ift.tt/31E8BQo
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