Intel Capital to invest Rs. 1,894.50 crore in Jio Platforms
Published: Jul 03, 2020
By TIOLCORPLAWS News Service
MUMBAI, JULY 03, 2020: Intel Capital will invest Rs 1,894.50 crore in Jio Platforms Limited ("Jio Platforms"). Intel Capital's investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs. 117,588.45 crore. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms 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. The transaction is subject to regulatory and other customary approvals. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.