Intel To Invest Rs 1,895 Crore In Jio

HYDERABAD: Intel Capital is making a huge investment of Rs 1,894.50 crore into Mukesh Ambani's Reliance Industries' Jio Platforms.

Intel has made this deal for a 0.39 per cent equity stake in India’s top telecom operator Jio platforms, and the equity value will be Rs 4.91 trillion and the enterprise value will be Rs 5.16 trillion, announced the two companies on Friday, July 3.

Intel Capital is the investment department of Intel Corporation which is a market leader in the semiconductor industry.

In the past 11 weeks, Jio has acquired huge investments from 12 iconic companies. With this, the total investment amounts to Rs 117,588.45 crore.

The two companies were delighted with the deal. Reliance Industries Chairman and Managing Director Mukesh Ambani said, "We are happy to work with Intel to advance the capabilities of the country which will help to move forward with the latest technologies that will empower all sectors of the economy."

He even added that they will work for improving the quality of life of 1.3 billion Indians.

Ambani hailed Intel company and said that it is the real industry leader in creating new technologies and innovations that will help the whole world progress.

Intel Capital said that it was investing in innovative companies around the world and focused on cloud computing, artificial intelligence and 5G technologies.

Intel said that even Jio is also investing in innovation and growth. Wendell Brooks, Intel Capital President, said, "We believe that digital convenience, data services, and business can transform business and society for the better."

Some of the global companies which have invested in Jio Platforms since April 22, 2020, include Facebook, Vista Equity Partners, Silver Lake, KKR, General Atlantic, Mubadala, TPG, ADIA, Saudi Arabia’s Public Investment Fund (PIF) and L Catterton.

Just eight days ago, the Competition Commission of India (CCI) had approved for Facebook to purchase a stake in Jio Platforms for Rs 43,574 crore.