Another Masterstroke, Intel Capital to Invest Rs.1,894.50 Crore in Jio Platforms

Jio Platforms is all set to receive Rs.1,894.50 crore from Intel Capital, the investment arm of Intel for an equity stake of 0.39 percent on a fully diluted basis. This investment comes at an equity value of Rs.4.91 lakh crore and an enterprise value of Rs.5.16 lakh crore. The transaction is subject to regulatory and other customary approvals, and Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels. Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment to Rs.117,588.45 crore.

Mukesh Ambani, Chairman & Managing Director, Reliance Industries, says, “We are extremely delighted to deepen our ties with technology leaders that embody our vision of transforming India into a leading Digital Society in the world. Intel is a true industry leader, working towards creating world-changing technology and innovations. Intel Capital has an outstanding record of being a valuable partner for

Jio Platfoms' focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel's purpose of delivering breakthrough technology that enriches lives.

leading technology companies globally. We are therefore excited to work together with Intel to advance India’s capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians”.

Intel Capital invests in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G. The investor found a match in Jio as it is constantly innovating and investing for growth. Wendell Brooks, Intel Capital President, says, “Jio Platfoms’ focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel’s purpose of delivering breakthrough technology that enriches lives. We believe digital access and data can transform business and society for better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence”.

Mid-Dune, Mukesh informed that the various rounds of investment and right issues made RIL net-debt free much ahead of the target