Intel is now a strategic investor in Jio Platforms.
US semiconductor giant Intel will invest Rs 1,894.5 crore in Jio Platforms for a 0.39 percent stake, Reliance Industries (RIL) said on July 3.
The transactions was conducted with Intel Capital, the investment arm of Intel.
Here are five things you need to know about the deal:
>> The transaction with Intel Capital values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
>> After this deal, Jio Platforms has raised Rs 1,17,588.45 crore from major global investors since April 22.
>> Intel is the 12th investor to recently purchase a minority stake in Jio Platforms, joining a list that includes Facebook, KKR, and General Atlantic.
>> The deal with Intel takes the total stake that RIL sold in Jio Platforms to 25.09 percent.
>> Intel's deal is similar to the investment by L Catterton, which also purchased a 0.39 percent stake in Jio Platforms for Rs 1,894.5 crore
RIL on June 19 said it has become net debt-free after its rights issue and the investments into its telecom unit Jio Platforms.
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