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  News   Business  03 Jul 2020  Intel Capital to buy 0.39 pc stake in Jio Platforms

Intel Capital to buy 0.39 pc stake in Jio Platforms

ROZANA SPOKESMAN
Published Jul 3, 2020, 1:53 pm IST
Updated Jul 3, 2020, 1:53 pm IST
Intel Capital, will buy 0.39 per cent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore
Jio and Intel Capital
 Jio and Intel Capital

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 CapitalIntel CapitalIntel Capital is 12th company to join the list of marquee firms who have recently invested in Jio Platforms, taking the 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.

Reliance JioReliance Jio "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," Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said.

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."

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