Intel to invest Rs 1,894.5 crore in Jio Platforms

Since April 22, Jio Platforms had a slew of high-profile investments

Chairman of Reliance Industries Limited Mukesh Ambani with wife Neeta Ambani | AP Chairman of Reliance Industries Limited Mukesh Ambani with wife Neeta Ambani | AP

Reliance Industries Limited announced that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms (a wholly-owned subsidiary of Reliance Industries) at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. According to a statement by the company, the Intel investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis.

Intel Capital is the investment arm of Intel Corporation, a leader in the semiconductor industry. 

Since April 22, Jio Platforms had a slew of high-profile investments from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF. The company had announced that it had raised Rs 1,68,818 crore in just 58 days through rights issues and global investments, enabling RIL to go debt-free. 

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. 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.”

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."