Qualcomm Ventures invests Rs 730 crore in Jio Platforms for 0.15% stake

Qualcomm Ventures is an investment arm of Qualcomm Incorporated

Billionaire Mukesh Ambani's Reliance Industries on Sunday said it has secured Rs 730 crore from wireless technology leader Qualcomm by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.18 trillion

."Qualcomm Ventures' investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement.

The investment, the company said, will deepen the ties with Qualcomm that will help Jio rollout of advanced 5G infrastructure and services in India.

With this deal, Reliance has sold 25.24 per cent