Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15%
The deal values Jio Platforms at an equity value of ₹4.91 trillion and an enterprise value of ₹5.16 trillion.
Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15%
With this, Reliance Industries has sold a total of 25.24% stake in Jio Platforms raising ₹118,318.45 crore
Qualcomm Ventures, the investment arm of Qualcomm Inc., will invest ₹730 crore for a 0.15% stake in Jio Platforms Ltd, becoming the 12th entity to invest in the digital services subsidiary of Reliance Industries (RIL) in over three months.
The deal values Jio Platforms at an equity value of ₹4.91 trillion and an enterprise value of ₹5.16 trillion, RIL said in a statement.
“Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network in India. Qualcomm offers deep technology know-how and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises," said Mukesh Ambani, chairman and managing director, RIL.
With this, RIL has sold a total of 25.24% stake in Jio Platforms to Facebook, General Atlantic, TPG, KKR, Silver Lake, L Catterton, Vista Equity Partners, Abu Dhabi Investment Authority, Mubadala Investment Company, and Public Investment Fund (PIF), Intel Capital and Qualcomm Ventures, raising ₹118,318.45 crore
Jio Platforms has over 388 million subscribers and has significant investments across its digital ecosystem.
It operates a host of digital apps and services, including music streaming service JioSaavn, on-demand live television service JioTV and payments app JioMoney, and smartphones and broadband business.
“With our shared goal of extending the benefits of digital connectivity to everyone
The deal values Jio Platforms at an equity value of ₹4.91 trillion and an enterprise value of ₹5.16 trillion.Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15%
With this, Reliance Industries has sold a total of 25.24% stake in Jio Platforms raising ₹118,318.45 crore
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