Reliance Jio has announced that Intel Capital, investment arm of Intel Corporation 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 investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.
With this investment, Jio Platforms has raised Rs. 117,588.45 crore from leading global investors including Facebook (Rs. 43,574 crore), Silver Lake (Rs. 10,202.55), Vista Equity Partners (Rs. 11,367 crore), General Atlantic (Rs. 6,598.38 core), KKR (Rs. 11,367 crore), Mubadala (Rs. 9093.60 crore), ADIA (Rs. 5683.50), TPG and L Catterton (Rs. 4546.80 crore and Rs. Rs. 1,894.50 crore) and The Public Investment Fund (PIF) (Rs. 11,367 crore) since April 22, 2020.
PIF’s investment in June marked the end of Jio Platforms’ first phase of induction of financial partners. At that time Mukesh Ambani said that Reliance became net-debt free company much before the original schedule of 31st March 2021. With RIL rights issue, the company has raised Rs. 53,124.20 crore, which is the largest in the world by a non-financial entity in the last ten years.
Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.9 billion in more than 1,582 companies worldwide.
These transactions are subject to regulatory and other customary approvals.