Qualcomm Ventures to invest Rs 730 crore in Jio Platforms for a 0.15% stake

Qualcomm Ventures, the investment arm of Qualcomm Incorporated, will invest Rs 730 crore in Jio Platforms for a 0.15 % stake, the companies said in a joint statement on Sunday.

This is the 12th investor to pick up a stake in Reliance Industries Ltd’ (RIL’s) telecom and digital business in less than two months. Qualcomm Ventures’ stake buy will take the total investments in Jio Platforms to Rs 1,18,318.45 crore for a combined 25.24 % holding.

The investment, which is subject to regulatory and other approvals, pegs Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore, Reliance said in the joint statement.