Intel Capital to buy 0.39 pc stake in Jio Platforms

New Delhi: Intel Capital, will buy 0.39 per cent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore, the company said on Friday.

"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.

Wendell Brooks, Intel Capital President, said, “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."