Intel Capital joins the list of other global investors who have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore since April 22, 2020.
Reliance Jio has announced that Intel Capital, investment arm of Intel Corporation will invest Rs 1,894.50 crore in Jio Platforms. This comes after Jio announced that Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF) will invest Rs 11,367 crores. With the investment, Intel Capital is set to become the 11th investor to make an investment in Jio Platforms.
Jio Platforms will receive the investment at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The sale of the 0.39 percent stake for Rs 1,894.50 crores gives Jio Platforms an enterprise value of Rs 5.16 lakh crores.
“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. 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 cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians” Mukesh Ambani, CMD of Reliance Industries said.
Wendell Brooks, Intel Capital President, said, “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. We believe digital access and data can transform business and society for the better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence.”
Intel Capital joins the list of other global investors who have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore since April 22, 2020. The list includes Saudi Arabia’s Public Investment Fund, TPG and L Catterton , Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton.
Facebook acquired a 9.9 per cent stake in Jio Platforms for Rs 43,574 crore. Silver Lake Partners invested in the company for Rs 5,655 crore at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore.
General Atlantic, a leading growth equity firm, invested Rs 6,598.38 crore in Jio Platforms for 1.34 per cent stakes. US-based Vista Equity Partners Ltd already announced an investment of Rs 11,367 crore in Reliance Jio Platforms. KKR said that it will invest Rs 11,367 crore in Jio Platforms.
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