Intel Capital invests crores in Jio Platforms
July 03, 2020
Intel Capital, the venture arm of Intel, has consented to put ₹1,894.50 crores in Jio Platforms at a value estimation of ₹4.91 lakh crore and an enterprise estimation of ₹5.16 lakh crore, Reliance Industries Ltd, the parent of Jio Platforms, said.
Intel Capital’s venture will convert into a 0.39% value stake in Jio Platforms on a completely diluted basis. Intel Capital joins the list of marquee firms which have as of late put resources into Jio Platforms, taking the complete venture to add up to ₹117,588.45 crores.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Intel Capital has an exceptional record of being an important accomplice for driving innovation organizations all-inclusive. We are, hence, eager to cooperate with Intel to advance India’s capacities in bleeding-edge advances that will engage all areas of our economy”.