Jio Platforms now ropes in Qualcomm as a Rs 730 crore investor to further 5G ambitions

In another multi-million-dollar investment for Reliance Jio Platforms, Qualcomm Ventures is set to invest Rs 730 crore for 0.15 per cent stake of the company. This is the twelfth investor to pick stake in Jio and the company has raised Rs 1,18,318.45 crore by selling 25.24 per cent of its holding so far.

The investment brings Jio Platforms to an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The investment will strengthen ties between the two companies and help in achieving the goal of advanced 5G infrastructure and services.

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Speaking of the investment, Reliance Chairman Mukesh Ambani said, Qualcomm is a world leader in wireless technologies and that will help Jio in delivering its 5G vision to bring digital transformation in India.

Apart from Qualcomm, companies that have invested in Jio Platforms include TPG, KKR, L Catterton, Intel Capital, General Atlantic, Vista Equity Partners, Abu Dhabi Investment Authority, Mubadala, and Public Investment Fund from Saudi Arabia.

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Rs 30,362 Crore from four investors

Reliance Industries' Jio Platforms on Saturday finalised all requisite approvals to receive an investment of over Rs 30,000 crores from four top global companies. Acquiring a stake of 6.13 percent, L Catterton, PIF, Silver Lake and General Atlantic Singapore, invested Rs 30,362 crores in the Reliance Industries telecom and digital business becoming the 11th investor to do so in 10 weeks. 

“We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, received the subscription amounts from the following investors and allotted equity shares to them,” said the company in an official statement.

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