Qualcomm to invest Rs 730 crore in Jio Platforms for 0.15% stake, 13th such investment in last 12 weeks
New Delhi | Jagran Business Desk: US-based Qualcomm Inc said today that it will invest Rs 730 crore in Jio Platforms for a 0.15 percent stake. Qualcomm, one of the world's biggest wireless technology companies, is the third strategic investor after Facebook Inc and US semiconductor company Intel in Jio Platforms.
"Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest up to Rs 730 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
"Qualcomm Ventures' investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement.
With this 13th unprecedented investment in the last 12 weeks, the total stake that Reliance sold in Jio Platforms has gone up to 25.24 percent.
RIL has now raised Rs 118,318.45 crore in total from some of the world’s leading tech investors - the largest fundraising exercise by a company anywhere in the world and during a global lockdown at that.
On April 22, Facebook had bought a 9.99 percent stake in Jio Platforms for Rs 43,574 crore. The conglomerate has since then sold stakes in Jio to global investors such as General Atlantic, KKR, Saudi sovereign wealth fund, Abu Dhabi state fund, Saudi Arabia’s PIF and Intel.
On July 3, Reliance Industries Limited (RIL) had announced that Intel Capital will invest Rs 1894.50 crore for 0.39 per cent stake in Jio Platforms.
Qualcomm has invested in Jio through its investment arm Qualcomm Ventures. The investment comes at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.
Qualcomm Ventures is a global fund that invests in pioneering companies across the wireless ecosystem in areas like 5G, AI, IoT, automotive, networking and enterprise.
In India, Qualcomm Ventures has invested in companies that address key domestic issues from dairy, transportation to defense, and build world class products for India and the world market.
(With inputs from agencies)
Posted By: Abhinav Gupta