Reliance Jio Platforms Raises $253 Million From Intel Capital

by StartupWorld Staff         

Reliance Industries Ltd. telecommunication subsidiary Jio Platforms to bag another significant investment of INR 1,894.50 crore ($253 million) from Intel Capital. Intel will hold a 0.39% equity stake of the Reliance Jio Platforms on a fully diluted basis with this investment. The investment has come at INR 4.91 lakh crore at an equity value, and INR 5.16 lakh crore an enterprise value.

For the deal, Davis Polk & Wardwell acted as legal counsel, and Morgan Stanley acted as financial advisor to AZB & Partners and Reliance Industries. With this latest funding, the telecom giant has secured more than INR 117,588.45 crore ($15.65 billion) in less than a quarter of Reliance Jio Platform across 11 deals with leading tech investors like Facebook, Silver Lake, KKR, General Atlantic, TPG Capital, Mubadala Investment Company, Abu Dhabi Investment Authority (ADIA), L Catterton, Saudi Arabia’s Public Investment Fund, and Vista Equity Partner.

Over this funding, Reliance Industries MD Mukesh Ambani said that they are thrilled to deepen their ties with technology leaders that incorporate their vision of transforming India into a leading Digital Society of the globe. Intel Capital is a true industry leader, which is working towards creating world-changing innovations and technology. Intel Capital has an excellent record of being a valuable partner for becoming one of the world’s leading technology companies.

Reliance Jio Platforms Raises $253 Million From Intel Capital

Intel Capital president Wendell Brooks said that Jio Platforms’ focus on pertaining its impressive engineering abilities to bring on-board the power of the low-cost digital solution to India aligning with Intel’s purpose of distributing breakthrough technology that enhances lives.

The newest funding comes exactly 2 weeks after Reliance Industries had declared itself to be net debt free, propelling Mukesh Ambani as the 9th richest man all over the globe with a net worth of $64.5 billion. The company had managed to bag more than INR 168,818 crore ($22.5 billion) in just 58 days. INR 1.15 lakh crore ($15.38 billion) came from the 10 deals Reliance Jio had lifted from 10 investments, while the rest INR 53,124 crore ($7.10 billion) came from the rights issues.

Alongside this, Reliance Industries Ltd. has also traded 49% shares to its Bharat Petroleum in an Indian fuels and mobility joint venture brand titled as Jio-BP. In addition, Reliance Industries has lifted over INR 1.75 Lakh crores ($23.4 billion) in the past 7 months.

Overall, the Reliance Jio Platform has secured more investment than the entire Startup ecosystem bagged in 2019. According to the IT solution firm, DataLabs’ estimation that Indian startups secured $12.7 billion across 766 deals, noting a 15% hike in funding amount from 2018. The total investment poured into Indian startups since 2014 stood at $58 billion; besides, the total number of funding deals crossed the 5000 marks with 5,011 fundings.


160 Reviews

Your rate 3 stars is recorded

About Author

StartupWorld Staff

StartupWorld is the destination to learn about new and upcoming startups making waves on the web. Being an entrepreneur is as much hard work as it is fun. No one knows it better than you do. Share your story, send it in and let us showcase it to the world.

Comments ()

Leave a Comment