US Tech Giant Intel Capital To Invest Rs 1,894.50 Crore In Jio Platforms For 0.39 Per Cent Equity Stake

Mukesh Ambani announced that US tech giant Intel will invest Rs 1894,50 Crore in Jio platform for a 0.39 equity stake, which makes this the 12th investment for the platform in 11 weeks.

Neel Raju Nalawade

July 3, 2020

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The Mukesh Ambani-led Jio platform has made yet another breakthrough. On Friday, July 3, Reliance Industries Limited (RIL)  announced that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms for 0.39 per cent equity stake. The latest development comes after the Chairman of RIL Mukesh Ambani announced that the firm has successfully managed to become net-debt free. This is an unprecedented 12th investment in Jio platforms within a span of eleven weeks. With this investment, Jio has raised Rs. 1,17,588 crore from leading technology investors.

Reports have also come up stating that Jio is finding an alternative to replace the Zoom meeting app by launching JioMeet to boost the Make in India initiative. Jio is already dominating the telecom market with its affordable networks plans. This massive investment by the US tech giant, Intel will surely help Jio in expanding its operations in India.

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