Reliance Jio gets Rs 1,894 crore investment from Intel's investment arm Intel Capital

Electronic chip maker Intel's investment arm, Intel Capital, will buy 0.39 per cent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore, company said on Friday. Intel Capital is 12th company to join list of marquee firms who have recently invested in Jio Platforms, taking total investment amount to Rs 1,17,588.45 crore.

"Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis," Reliance Industries and Jio Platforms said in a joint statement.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, also runs Reliance Jio telecom business. Jio les India market with over 38.8 crore subscribers.

"Intel Capital has an outstanding record of being a valuable partner for leing techlogy companies globally. We are refore excited to work toger with Intel to vance India's capabilities in cutting-edge techlogies that will empower all sectors of our ecomy and improve quality of life of 1.3 billion Indians," Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said Wendell Brooks, Intel Capital President, said that Jio Platforms' focus on applying its impressive engineering capabilities to bring power of low-cost digital services to India aligns with Intel's purpose of delivering breakthrough techlogy that enriches lives.

"We believe digital access and data can transform business and society for better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence," Brooks said. PTI PRS