Woah! Intel Will Invest Rs 1894 Crore In Reliance Jio For 0.39% Stake – 12th Funding In 11 Weeks!

Woah! Intel Will Invest Rs 1894 Crore In Reliance Jio For 0.39% Stake - 12th Funding In 11 Weeks!

Woah! Intel Will Invest Rs 1894 Crore In Reliance Jio For 0.39% Stake – 12th Funding In 11 Weeks!

Intel Corp will invest Rs 1,894.5 crore in Jio Platforms in exchange for a 0.39% stake, the latest big-ticket investment in the digital unit of Reliance Industries (RIL).

After Facebook Inc, the American semiconductor giant is the 2nd strategic investor in Jio, a telecom wing of RIL.

Read on to find out more…

RIL Has Now Raised Rs 117, 588.45 Crore With Its 12 Investments!

Intel is the leader in the semiconductor industry, shaping the data-centric future with computing and communications technology that is the foundation of global innovations. Intel has operated in India for more than 2 decades and today employs thousands of employees at its facilities in Bengaluru and Hyderabad.

The deal with Intel is the 12th such investment in 11 weeks . This takes the total stake that Reliance sold in Jio Platforms to 25.09%.  

The transaction is subject to regulatory and other customary approvals.

Mumbai-based RIL has now raised a combined Rs 117,588.45 crore from some of the world’s leading tech investors led by Facebook, which bought a 9.99% stake for Rs 43,574 crore in April, 2020.

The RIL has since sold stakes in Jio to global investors such as General Atlantic, KKR, Saudi sovereign wealth fund, Abu Dhabi state fund and Saudi Arabia’s Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds.

PIF’s investment on June 18 marked the end of Jio Platforms’ current phase of induction of financial partners, RIL then said.

Intel’s investment through its investment arm Intel Capital comes at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.

What Do Both The Companies – RIL and Intel – Have To Say?

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.”

Intel Capital invests in innovative tech startups targeting artificial intelligence (AI), autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. 

Since 1991, Intel Capital has invested $12.9 billion in more than 1,582 companies worldwide, and 692 portfolio companies have gone public or participated in a merger.

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