US Tech Giant Intel To Invest Rs 1,894.5 Crore In Reliance's Jio Platforms; Twelfth Investment In Over Two Months

US Tech Giant Intel To Invest Rs 1,894.5 Crore In Reliance's Jio Platforms; Twelfth Investment In Over Two MonthsMukesh Ambani/Jio Logo (Swarajya Magazine)

United States' tech giant Intel will invest Rs 1,894.5 crore in Reliance Industries Limited's (RIL) Jio Platforms, PTI has reported.

This will be twelfth such investment in Jio Platforms in just over two months.

Intel Capital, a division of US chipmaker Intel corporation, will invest the sum for buying a 0.39 per cent stake in the RIL's digital arm, Business Standard reported.

"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," said RIL Chairman Mukkesh Ambani.

Jio Platforms has raised over Rs 170,000 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF and Intel since 22 April 2020.

RIL had also raised Rs 53,124.20 crore from its Rights Issue, which was subscribed 1.59 times.

Earlier last month, RIL announced that with the investment and the Rights Issue, the company have become net-debt free.