Reliance Jio Continues To Raise Money, Intel Capital Invests Rs 1,894 Crore

by GoNews Desk 10 months ago Views 2057

Reliance Jio Continues To Raise Money, Intel Capit
The process of buying a stake in Reliance Jio, the country's largest private telecom company, is continuing.

Now, Intel Capital has announced it's buying a 0.39% stake in Reliance Jio by investing Rs 1,894 crore at an equity value of Rs 4.91 lakh crore. After the new announcement, the enterprise value of Reliance Jio has now become Rs 5.16 lakh crore.

For the last three months, Jio has been continuously raising money from investors, following which the total investment in the company has increased to Rs 1,17,588.45 crore.

The Jio platform includes investments from large companies such as Facebook, Silver Lake, Vista Equity Partner, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF.

Mukesh Ambani, CMD of Reliance Industries said, “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.”

Currently, Jio has more than 38,000 crore users in the country.

Jio entered the telecom industry in 2016 and achieved fame by offering free voice services and internet schemes for less money. The company is also catching up on the digital medium by partnering with big names like Facebook and Intel.

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