When Saudi Arabia's PIF injected €1.5 billion into Jio Platforms on June 18, Mukesh Ambani, India's richest man who runs it, said it marked the end of the current phase. induction of financial partners of his business. But in just about 20 days, Jio Platforms again managed to integrate another brand. Intel Capital, the investment arm of US chipmaker Intel, will invest €253.5 million (Rs 1,894.50 crore) in Jio Platforms at a net worth of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will result in a 0,39% stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of big names that have recently invested in Jio platforms, bringing the total investment amount to over $15.5 billion (Rs 117,588.45 crore). With this deal, Reliance Industries has so far sold 25.09% of its stake in Jio Platforms. Prior to this investment, Jio Platforms had raised €15,2 billion (Rs 115,693.95 crore) from eleven major global investors including Facebook, Silver Lake (1 & 2), KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and PIF. One of the objectives of this Reliance Industries divestment operation has already been achieved: to see it get rid of its debts.
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(Image credit: Jio platforms)
Intel Capital invests around the world in innovative companies that focus on disruptive technology areas such as cloud computing, artificial intelligence and 5G, opportunities where Jio innovates and also invests to grow. In a press release, Mukesh Ambani, Chairman and CEO of Reliance Industries, said: "We are excited to deepen our ties with technology leaders who embody our vision of transforming India into a world-leading digital society. Intel is a true industry leader, working to create breakthrough technologies and innovations. Intel Capital has an exceptional track record as a valued partner to large technology companies around the world." Wendell Brooks, President of Intel Capital, said: "Jio's emphasis Platforms in applying its impressive engineering capabilities to bring the power of low-cost digital services to India is consistent with the goal of 'Intel will deliver revolutionary technology that enriches lives.' We believe that digital data and access can transform businesses and society for the better.With this investment, we are delighted to help drive digital transformation in India, where Intel maintains a significant presence. "Since 1991, Intel Capital has invested US$12.9 billion in more than 1,582 companies worldwide, and 692 portfolio companies have gone public or participated in a merger. Jio Platforms, with more than 388 million subscribers, has made significant investments in its digital ecosystem, using advanced technologies covering broadband connectivity, smart devices, cloud and advanced technologies, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality, and blockchain.You can read more about the full list of investors and why they invest in Jio platforms here.