Mumbai: The technology giant Intel will invest 18.94 billion rupees in Jio Platforms, the telecom and ecommerce platform owned by Reliance Industries.
Intel Capital's investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins a list of marquee firms that have recently invested in Jio, taking the total investment amount to 1175.88 billion rupees.
Intel Capital is the investment arm of Intel Corp., a leader in the semiconductor industry. Intel has operated in India for more than two decades and has design facilities in Bengaluru and Hyderabad.
This is 12th investment by a global player in Jio since April 22. The others include Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF and Intel. Abu Dhabi's Mubadala and Saudi Arabia's PIF too have come on board.
The 1175.88 billion rupees raised is the largest continuous funds raised by a company anywhere in the world.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "We are extremely delighted to deepen our ties with technology leaders that embody our vision of transforming India into a leading digital society in the world. Intel is a true industry leader, working towards creating world-changing technology and innovations."