[ad_1]
New Delhi, October 1: Reliance Industries subsidiary Jio Platforms received a subscription amount of Rs 2624.5 crore from Intel Capital and Qualcomm Ventures, according to a regulatory document.
The subscription amount of Rs 1,894.5 crore comes from Intel Capital for a 0.39 percent stake in Jio Platforms, and Rs 730 crore comes from Qualcomm Asia Pacific for a 0.15 percent stake. The infusion of funds from Intel Capital and Qualcomm Ventures into Jio Platforms was announced in July this year. Reliance Jio seeks early spectrum auction, says delay to harm the national treasury.
“We hereby report that Jio Platforms, a subsidiary of the company, today received the subscription amounts from the following investors and allocated equity shares to them,” RIL said in a presentation late Wednesday afternoon.
RIL had previously said that Qualcomm Ventures investment would deepen ties between Qualcomm and Jio Platforms to support the latter in its journey towards deploying advanced 5G infrastructure and services for Indian customers.
In announcing Intel Capital’s investment, he had said that Intel Capital invests globally in innovative companies with a focus on disruptive technology areas such as cloud computing, artificial intelligence and 5G, opportunities in which Jio is also innovating and investing to growing up.
In total, Jio Platforms, which is home to the apps and India’s youngest but largest telecom company Jio, has raised around 1.52.056 crore from thirteen investors including Facebook, Google, Silver Lake, Vista Equity. Partners, General Atlantic, KKR, Mubadala, ADIA. , TPG, L Catterton, Saudi Arabia Public Investment Fund, Intel Capital and Qualcomm Ventures, for a total consideration of 32.9 percent stake.
Jio Platforms is a next-generation technology platform focused on providing quality, affordable digital services across the country. It has made significant investments in its digital ecosystem, supported by technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, the internet of things, augmented and mixed reality, and blockchain.
[ad_2]
