NEW DELHI: Shares of Reliance Industries advanced over 1 per cent in Friday's trade after the oil-to-telecom major announced the twelfth major deal in its telecom venture Jio Platforms, amounting to Rs 1,895 crore for a 0.39 per cent stake.
As per exchange filing, the US semiconductor giant 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 cheque took the total investment amount in Reliance's digital arm to Rs 117,588.45 crore since April 22.
Agencies
Source: RIL Recently, RIL announced two deals in a single day worth Rs 6,441.30 crore from global alternative asset firm TPG (Rs 4,546.80 crore) and L Catterton (Rs 1,894.50 crore). Before that, it announced Rs 104,326.95 crore worth of eight deals in two months. Those deals were made with Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG.
Jio Platforms is a wholly-owned subsidiary of Reliance Industries, which has more than 388 million subscribers. The telecom firm has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
Agencies
Source: RIL 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. Intel has operated in India for more than two decades and today employs thousands of employees there with state-of-the-art design facilities in Bengaluru and Hyderabad.
