TheNFAPost Podcast

Amritsar, NFAPost: Digital arm of Reliance Jio, Jio Platforms, has received 2,624.50 crore rupees from Intel Capital and Qualcomm Asia Pacific in exchange of equity shares.

“We hereby inform that, Jio Platform Limited, a subsidiary of the company received subscription amounts today from the following investors and allotted equity shares to them,” Reliance Industries said in an exchange filing.

In exchange for this investment, Intel Capital gets 0.39% of equity, while Qualcomm Asia Pacific gets 0.15% in Jio Platform. Intel has invested 1,894.50 crore rupees and Qualcomm has put in 730 crore rupees.

These investments are part of Jio Platforms’ over 1.52 lakh crore rupees fund raising exercise by divesting minority stakes to multiple tech companies such as Intel and Qualcomm, besides Facebook, Google, technology focussed private equity players, and sovereign wealth funds.

So far Reliance Jio has received 43,574 crore rupees from Facebook for a 9.9% stake in Jio Platforms.

Internet giant Google has moved the Competition Commission of India (CCI) to get an all-clear for its 33,737 crore rupees investment in Jio Platforms for a 7.73% stake, and manufacture a new smartphone in India.

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