Intel Corp has said that it will invest Rs 1,894.5 crore in Jio Platforms in exchange for a 0.39 percent stake, the latest big-ticket investment in the digital unit of Reliance Industries (RIL).
The deal with Intel — the 12th such investment in 11 weeks —takes the total stake that Reliance sold in Jio Platforms to 25.09 percent. Mumbai-based RIL has now raised a combined Rs 117,588.45 crore from some of the world’s leading tech investors led by Facebook, which bought a 9.99 percent stake for Rs 43,574 crore on April 22.
It comes just a fortnight after an investments by PIF, Saudi Arabia's sovereign wealth fund announced an investment.
PIF’s investment on June 18 marked the end of Jio Platforms’ current phase of induction of financial partners, RIL then said. Intel’s investment through its investment arm Intel Capital comes at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.
This is Jio's twelfth deal in 11 weeks, following investments from Facebook Inc, General Atlantic, Silver Lake, Vista Equity Partners, KKR and Mubadala Investment Company, ADIA, TPG Capital, L Catterton and PIF.
Here's a summary of the twelve deals:
The California-based company invested $5.7 billion (Rs 43,574 crore) into Jio Platforms for a 9.9 percent stake in the company.
The transaction, announced on April 22, is the largest of the six investments. It was also Facebook's biggest bet since it acquired messaging platform WhatsApp in 2014.
The deal also made Facebook the largest minority shareholder in Jio Platforms.
Jio-Silver Lake deal
Silver Lake Partners acquired a 1.15 percent stake in Jio Platforms for Rs 5,655.75 crore ($750 million).
Vista Equity Partners bought a 2.32 percent stake in Jio Platforms for Rs 11,367 crore.
Jio-General Atlantic deal
Private equity firm General Atlantic picked up a 1.34 percent stake in Jio Platforms for 6,598.38 crore.
KKR acquired a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, similar to the deal made with Vista Equity Partners.
The deal with the Abu Dhabi-based sovereign investor, announced on June 5, valued Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Facebook 's investment had valued Jio Platforms at a pre-money enterprise value of Rs 4.62 lakh crore ($65.95 billion).
Jio-Silver Lake deal 2.0
Silver Lake will invest an additional Rs 4,546.8 crore in Jio Platforms for 0.93 percent stake. The aggregate investment by Silver Lake is now Rs 10,202.55 crore for a 2.08 percent stake in Jio Platforms.
Abu Dhabi Investment Authority (ADIA) will pump Rs 5,683.5 crore into Jio Platforms.
ADIA’s investment at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.
Jio-TPG Capital deal
TPG’s investment in Jio is Rs 4,546.80 crore for a 0.93 percent stake assigning it an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.
Jio-L Catterton deal
L Catterton will invest Rs 1,894.50 crore in exchange for a 0.39 percent stake in Jio Platforms, a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks.
Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms.Jio-Intel dealThe American semiconductor giant, Intel, said that it will invest Rs 1,894.5 crore in Jio Platforms for a 0.39 percent stake.Disclosure: Reliance Industries (RIL) is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.