INVESTMENT PROMOTES DELIVERY OF BREAKTHROUGH TECHNOLOGIES THAT ENRICH
LIVES
Reliance Industries Limited (“Reliance Industries”) and Jio
Platforms Limited (“Jio Platforms”), announced today that Intel Capital will
invest ₹ 1,894.50 crore in Jio Platforms at an equity value of ₹ 4.91
lakh crore and an enterprise value of ₹ 5.16 lakh crore. Intel Capital’s
investment will translate into a 0.39% equity stake in Jio Platforms on a fully
diluted basis. Intel Capital joins the list of marquee firms who have
recently invested in Jio Platforms, taking the total investment amount to ₹ 117,588.45
crore.
Jio Platforms, a wholly-owned subsidiary of Reliance
Industries, is a next-generation technology platform focused on providing
high-quality and affordable digital services across India , with more than 388 million
subscribers. Jio Platforms has made significant investments across its digital
ecosystem, powered by leading technologies spanning broadband connectivity,
smart devices, cloud and edge computing, big data analytics, artificial
intelligence, Internet of Things, augmented and mixed reality and blockchain.
Jio’s vision is to enable a Digital India for 1.3 billion people and businesses
across the country, including small merchants, micro-businesses and farmers so
that all of them can enjoy the fruits of inclusive growth.
Intel Capital invests globally in innovative companies
with a focus on disruptive technology areas like cloud computing, artificial
intelligence and 5G – opportunities where Jio is also innovating and investing
for growth. Intel Capital is
the investment arm of Intel Corporation, a leader in the semiconductor
industry, shaping the data-centric future with computing and communications
technology that is the foundation of global innovations. Intel has operated in India for more than two decades and today
employs thousands of employees there with state-of-the-art design facilities in
Bengaluru and Hyderabad .
Mr. Mukesh Ambani, Chairman
and Managing Director of Reliance Industries, said, “We are extremely delighted
to deepen our ties with technology leaders that embody our vision of
transforming India into a leading Digital Society in the world. Intel is a true
industry leader, working towards creating world-changing technology and
innovations. Intel Capital has an outstanding record of being a valuable
partner for leading technology companies globally. 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.”
Mr. Wendell Brooks, Intel
Capital President, said, “Jio
Platforms’ focus on applying its impressive engineering capabilities to bring
the power of low-cost digital services to India aligns with Intel’s purpose of
delivering breakthrough technology that enriches lives. We believe digital
access and data can transform business and society for the better. Through this
investment, we are excited to help fuel digital transformation in India , where Intel maintains
an important presence.”
The transaction is subject to regulatory and other
customary approvals.
Morgan Stanley acted as financial advisor to Reliance
Industries and AZB & Partners and Davis Polk & Wardwell acted as legal
counsels.
Mumbai, July 03, 2020