INSUBCONTINENT EXCLUSIVE:
Jio Platforms has raised Rs 1,17,588.45 crore since April 22
Billionaire Mukesh
Ambani-led Reliance Industries Limited (RIL) said on Friday that US-based Intel Corporation's investment arm, Intel Capital, will buy a
0.39 per cent stake in Jio Platforms for Rs 1,894.50 crore
The deal gives Jio Platforms an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance Industries said
in a release early on Friday
RIL said the transaction is subject to regulatory and other customary approvals
Intel Capital joins a long list of investors bullish on Reliance Industries' digital services arm, including internet giant Facebook
This is the twelfth investment in Jio Platforms - which houses telecom major Reliance Jio Infocomm - within 11 weeks.In total, Jio
Platforms has raised Rs 1,17,588.45 crore since April 22.Recent investors in Jio Platforms include the US-based Facebook, Silver Lake,
General Atlantic and KKR, and Abu Dhabi-based Mubadala and Abu Dhabi Investment Authority, and Saudi Arabia's Public Investment
chairman and managing director, Reliance Industries."We are therefore excited to work together with Intel to advance India's capabilities
Reliance Industries stock traded 0.68 per cent higher at Rs 1,772.55, outperforming the benchmark Sensex index which was up 0.32 per
cent.Investments in Reliance Jio along with Reliance Industries' rights issue worth more than Rs 53,000 crore have helped the conglomerate
to become net debt-free much earlier than its target of March 2021.As of Thursday's closing price, Reliance Industries' shares have risen
March 2021," he had said.
