Mukesh Ambani’s Reliance gets another cheque of Rs 1,894.50 crore from Intel Capital for Jio Platforms

Intel Capital is the latest global investor to have acquired a stake in Jio Platforms. Reliance Industries (RIL) on Friday announced that Intel Capital had picked up a 0.39% stake in its digital platforms company for an investment of Rs 1,894.50 crore. With this, RIL has raised a total of Rs 1,17,588.45 crore through 12 deals in over two months, by selling 25.09% stake in Jio Platforms to technology giants like Facebook and several big private equity investors and sovereign wealth funds. These include Silver Lake, Vista Equity Partners, General Atlantic, KKR, ADIA and TPG. A similar amount was invested by L Catterton just weeks ago in Jio Paltforms.

Intel’s investment valued Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. In all these deals, the company would issue fresh shares to the investors. The deal further strengthened parent RIL’s target of becoming zero-debt company well ahead of March 2021.