Intel Capital to invest Rs 1,894.50 crore in Jio Platforms

Reliance Industries (RIL) and Jio Platforms announced today that 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.

The announcement was made before market hours today, 3 July 2020. Shares of RIL settled 1.3% higher at Rs 1,760.55 yesterday.

Intel Capital's investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of firms who have recently invested in Jio Platforms, taking the total investment amount Rs 117,588.45 crore.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.

Intel Capital invests globally in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G - opportunities where Jio is also innovating and investing for growth. Intel Capital is the investment arm of Intel Corporation, a leader in the semiconductor industry.

RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

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