Intel to invest $253.5 million in Jio

Intel Capital, the investment arm of the US chipmaker, will invest ₹1,894.50 crore ($253.4 million) for a 0.39% stake in Jio Platforms, becoming the 11th entity to invest in the digital services business of Reliance Industries Ltd (RIL) in a span of three months.

The deal values Jio Platforms at an equity value of ₹4.91 trillion and an enterprise value of ₹5.16 trillion, RIL said in a statement on Friday.

“Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally. 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,” said Mukesh Ambani, chairman and managing director, RIL.