Intel-Jio Deal: Intel Capital to Invest Rs. 1,894.50 Crores in Jio Platforms


Reliance Industries and Jio Platforms on Friday announced that Intel Capital will invest Rs. 1,894.50 crores in Jio Platforms at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores. Intel Capital’s investment will translate into a 0.39 percent 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. 1,17,588.45 crores.

This is an unprecedented twelfth investment in Jio Platforms within eleven weeks (since 22nd April 2020).

Intel is one of the pioneering companies in the technology space and is admired and respected for its innovation.

With this investment, Jio Platforms has raised Rs. 1,17,588.45 crores from leading technology investors including Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, and Intel. At Rs. 1,17,588.45 crores, it is the largest continuous funds raised by a company anywhere in the world. It is remarkable that this was done amidst a global lockdown, clearly signifying India’s digital potential and Jio’s business strategy.

Intel’s investment is at a similar valuation to the other recent investments in Jio – equity valuation of Rs. 4.91 lakh crores and enterprise valuation of Rs. 5.16 lakh crores.

Intel Capital is the investment arm of Intel Corporation, a leader in the semiconductor industry, shaping the data-centric future with computing and communications technology that is the foundation of global innovations. Intel has operated in India for more than two decades and today employs thousands of employees there with state-of-the-art design facilities in Bengaluru and Hyderabad.

Mukesh Ambani, chairman and managing director of Reliance Industries, said, “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 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,” he added.

Wendell Brooks, Intel Capital president, said that Jio Platforms’ 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 the better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence,” Brooks added.

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