Mumbai: Intel Capital, the corporate venture capital arm of the semiconductor giant Intel Capital is the latest investor in Jio Platforms.
Reliance Industries Limited and Jio Platforms Limited announced today that Intel Capital will invest Rs 1,894.50 crore 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% equity stake in Jio Platforms on a fully diluted basis.
With this investment, Intel joins a list of dozen investors including Facebook, KKR, Saudi Arabia’s Public Investment Fund, taking the total financing to Rs 1,17,588.45 crore for just a shade over 25% holding.
Overall, Reliance has raised about Rs 1,70,712.65 crore in over two and half months, including the country’s largest rights issue of Rs 53,124.20 crore.
Intel Capital has invested globally in technology companies across various areas like cloud computing, artificial intelligence and 5G.
Reliance Industies said that Jio Platforms is also making significant investments across its digital ecosystem for future growth, including areas like broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
In June, Reliance declared itself as debt-free, delivering on a promise made to the company’s shareholders in August last year. The company also received approval from the Competition Commission of India for Facebook’s $5.7 billion investment in Jio Platforms last week.