US-Based Global Tech-Giant Qualcomm To Invest Rs 730 Crore For 0.15 Per Cent Stake In Jio Platforms

US-Based Global  Tech-Giant Qualcomm To Invest Rs 730 Crore For 0.15 Per Cent Stake In Jio PlatformsReliance Industries chairman Mukesh Ambani at a Jio event. (digit.in)

United States (US) based wireless technology giant Qualcomm Inc's investment arm Qualcomm Ventures has joined the beeline of investors which have bought shares in Mukesh Ambani owned Jio Platforms, reports Indian Express.

Qualcomm Ventures, the twelfth such investor, will be purchasing 0.15 per cent stake in Jio Platforms for a sum of Rs 730 crore. The development was made public by Reliance Industries Ltd (RIL) which is the parent company of Jio Platforms.

Qualcomm Ventures' investment has valued Jio Platforms at an equity value of Rs 4.91 lakh crore and at an enterprise value of Rs 5.16 lakh crore. Also, it is the third technology firm to invest in Jio Platforms, others being Facebook Inc and global semiconductor heavyweight Intel.

It should be noted that of the 12 investors which Jio Platforms has attracted massive sums of investments from, the majority happen to be US-based entities like Facebook Inc, Silver Lake Partners, General Atlantic, KKR and Intel among several others.

Meanwhile, the non-US entities include investors like the sovereign wealth funds of the Kingdom of Saudi Arabia and Abu Dhabi.