Intel Capital of Intel Corporation, on the 2nd of July, announced to invest in Jio platform.
The company is going to invest Rs. 1,894.50 crores at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores.
With the investment, Intel would have 0.39% equity stake in Jio Platforms.
Intel is the third company to invest in Jio in the past one month, taking the total investment to Rs. 117,588.45 crores.
Mukesh Ambani, the Managing Director (MD) of Reliance Jio 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. 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.”
Wndell Brooks, the President of Intel Capital, 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 is the 11th investor in Jio platforms in the past two months.
The series of big investments of foreign companies started with Facebook investing Rs. 43,573.62 crores.
On the 22nd of April, Facebook invested Rs. 43,573.62 crores for 9.99 % stake, followed by Silver Lake Partners with (5,655,75 crores) for 1.15 % stake.
The other companies invested in Jio are:
Vista Equity Partners with an investment of Rs. 11,367 crores for 2.32% stake.
General Atlantic Rs. 6,598.38 crores for 1.34% stake.
KKR (Rs. 11,367 crores) for 2.32% stake, Mubadala (Rs.9,093.60 crores) for 1.85 % stake.
Silver Lake Partners again with an investment of Rs. 4,546.80 crores for 0.93 % stake.
Abu Dhabi Investment Authority (Rs.5,683.50 crores) 1.16 % stake.
TPG (Rs. 4,546.80 crores) for 0.93% stake, L
Catterton (Rs. 1,894.50 crores) for 0.39% stake, PIF (Rs.11,367 crores) for 2.32 % stake and now Intel.
With this, total investment in Reliance is Rs. 117,588.45 crores with a sharing stake of 25.09 %.
Stay tuned for further updates