Intel Corp to invest Rs 1,894.5 cr in Jio Platforms

Intel Corp to invest Rs 1,894.5 cr in Jio Platforms

Reliance Jio is all set for another big investment. Intel Corp will invest Rs 1,894.5 crore in Jio Platforms in exchange for a 0.39 percent stake.

The American semiconductor giant is the second strategic investor after Facebook Inc in Jio, which runs movie, news and music apps as well as the telecom enterprise Jio Infocomm.

The deal with Intel — the 12th such investment in 11 weeks —takes the total stake that Reliance sold in Jio Platforms to 25.09 percent.  Mumbai-based RIL has now raised a combined Rs 117,588.45 crore from some of the world’s leading tech investors led by Facebook, which bought a 9.99 percent stake for Rs 43,574 crore on April 22.

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The oil-to-telecom conglomerate has since sold stakes in Jio to global investors such as General Atlantic, KKR, Saudi sovereign wealth fund, Abu Dhabi state fund and Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “We are extremely delighted to deepen our ties with technology leaders that embody our vision of transforming India into a leading Digital Society in the world. Intel is a true industry leader, working towards creating world-changing technology and innovations.”