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Jio Platforms received subscription amount from Intel Capital

October 05, 2020

Jio Platforms received subscription amount from Intel Capital

Jio Platforms – the digital arm of Reliance Jio – has gotten Rs 2624.50 crore from Intel Capital and Qualcomm Asia Pacific.

“We are by educated that Jio Platform Limited, a subsidiary of the organization got membership sums today from the accompanying financial specialists and assigned value offers to them,” said Jio on Thursday.

While Intel Capital gets 0.39% of value, Qualcomm Asia Pacific gets 0.15% in the Jio Platform. Intel has contributed Rs 1894.50 crore and Qualcomm has placed in Rs 730 crore.

So far the digital arm has gotten Facebook’s Rs 43,574 crore in Jio Platforms for a 9.99% stake.

Then, US web monster Google has moved the Competition Commission of India (CCI) to get an all-reasonable for its Rs 33,737 crore interest in Jio Platforms for a 7.73% stake and assembling another cell phone in India.

These ventures were essential for Jio Platforms’ over Rs1.52 lakh crore raising money practice by stripping minority stakes to numerous innovation organizations, for example, Qualcomm and Intel other than Facebook and Google, innovation focussed private value players and sovereign riches reserves.

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