In the latest big-ticket investment in the digital unit of Reliance Industries Limited (RIL), Intel Capital, the investment arm of Intel Corporation will invest Rs 1,894.5 crore in Jio Platforms, joining the list of marquee firms, who have recently invested in RIL’s digital unit.
The investment made by the American semiconductor giant will translate to 0.39 per cent of the equity stake in Jio platforms on a fully-diluted basis. The latest investment pegs Jio Platforms’ equity value at Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, RIL said in a statement. The transaction is subject to regulatory and customary approvals.
The deal with Intel marks the twelfth investment in eleven weeks for RIL, taking the total investment drawn by Mumbai-based RIL now to Rs 1,17,588 for 25.09 per cent holding. Intel Capital is the second strategic investor after Facebook, which runs movies, news and music apps as well as the telecom enterprise Jio Infocomm. Facebook bought a 9.99 per cent stake for Rs 43,574 crore on April 22, 2020.
The other investors include Facebook, Abu Dhabi’s two largest sovereign investment arms, Abu Dhabi Investment Authority and Mubadala, along with private equity firms Silver Lake, Vista Equity Partners, General Atlantic, KKR, TPG, L Catterton and Saudi Arabia’s Public Investment Fund (PIC)
At 11 am on Friday, the stock of RIL was trading at Rs 1,773.45, up by 0.73 per cent or Rs 12.90 per share. The 52-week high is recorded at Rs 1,804.10 and the 52-week low is Rs 867.82 on BSE.