The logo of Reliance Jio, the mobile network of Reliance Industries Ltd., is displayed at a store in Mumbai, India, on Sunday, Jan. 19, 2020. Reliance Industries, India's biggest company by market value, posted a 13.5% jump in quarterly net income as growth in telecom and retail business helped outweigh a slump in petrochemical operations. Photographer: Dhiraj Singh/Bloomberg

Mumbai, NFAPost: Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), announced that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Intel Capital’s investment will translate into a 0.39% 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 117,588.45 crore.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.

Broadband connectivity

Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

Intel Capital invests globally in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G – opportunities where Jio is also innovating and investing for growth. 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.

Commenting on the investment, Reliance Industries Chairman and Managing Director Mukesh Ambani said he is extremely delighted to deepen ties with technology leaders that embody the vision of transforming India into a leading Digital Society in the world.

Engineering capabilities

“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,” said Reliance Industries Chairman and Managing Director Mukesh Ambani.

Intel Capital President Wendell Brooks said 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,” said Intel Capital President Wendell Brooks.

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