Intel Capital to invest Rs 1894.50 crore in Reliance's Jio Platforms
The fresh development comes days after RIL Chairman Mukesh Ambani announced that the company has successfully managed to become net-debt free. Reliance's Jio Platforms has now raised over Rs 1.17 lakh crore in investments.
In Short
- Intel Capital will invest Rs 1,894.50 crore in RIL's Jio Platforms
- The investment will be for 0.39 per cent equity stake in RIL's digital arm
- Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms
Reliance Industries Limited (RIL) on Friday announced that Intel Capital, the investment arm of Intel Corporation, will invest Rs 1894,50 crore in Jio Platforms for 0.39 per cent equity stake.
The fresh development comes two weeks after RIL Chairman Mukesh Ambani announced that the company has successfully managed to become net-debt free.
On June 19, Ambani announced that development and said he has “fulfilled” his promise to stakeholders.
“I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Ambani said.
Also Read | Fulfilled my promise, Reliance is now net debt-free: Mukesh Ambani
Earlier, Jio Platforms also raised capital from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubidala, ADIA, TPG, L Catterton and PIF.
After Intel’s investment, Jio Platforms will have raised a total investment exceeding Rs 1.17 lakh crore.
“Intel Capital’s investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to 117,588.45 crore,” RIL said.
Read | RIL's Jio Platforms raises over 92,000 crore in six weeks after fresh investments
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