Ambani’s Jio secures $253m investment from Intel Capital – The National

Ambani’s Jio secures $253m investment from Intel Capital – The National

Intel joins a number of global companies investing in Jio

















The investment arm of computer chip giant Intel agreed to buy a 0.39 per cent stake in Jio Platforms. Bloomberg

















July 4, 2020



July 4, 2020













The technology venture of billionaire Mukesh Ambani secured 18.95 billion rupees ($253 million/Dh929m) from Intel Capital, adding to a slew of investments since April that have reached more than $15bn.



The investment arm of computer chip giant Intel agreed to buy a 0.39 per cent stake in Jio Platforms, giving the business an equity value of $65bn, Ambani's conglomerate Reliance Industries said in a statement Friday.



Intel Capital joins global names including Facebook, KKR & Co and Silver Lake Partners in backing Mr Ambani's bid to transform Reliance into a digital services giant and reduce its dependence on revenue from oil refining and petrochemicals.



"Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence,“ Wendell Brooks, Intel Capital president, said in the statement.





Morgan Stanley acted as financial adviser to Reliance Industries.



Ambani's