Platforms? Reliance Jio has had a god 2020 so far. Driving investments from several international investment firms, it recently announced that it generated Rs 168,818 crores in two months, is now 100% debt-free.?
However, it looks like it isn¡¯t stopping there.
CPU maker Intel¡¯s investment arm Intel Capital has announced that it will be buying a 0.39 percent stake in Jio Platforms for a whopping Rs 1,894.50 crores, making it the 11th company to join the investor list after Facebook, Mubadala, Vista Equity and others.?
This brings the total investment to Rs 1,17,558.45 crores for a 25.09 percent holding in Jio Platforms.
The latest investment brings Jio Platforms¡¯ equity value at Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, as per an official statement made by Reliance.?
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said in a statement, "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. Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally.¡±
Mukesh further stated, ¡°We are therefore excited to work together with Intel to advance India¡¯s capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians.¡±
Wendell Brooks, Intel Capital President, said "We believe digital access and data can transform business and society for the better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence."?
Other investors include Facebook, Abu Dhabi¡¯s ADIA and Mubadala, along with private equity firms Silver Lake, Vista Equity Partners, General Atlantic, KKR, TPG, L Catterton and Saudi Arabia¡¯s Public Investment Fund (PIF).