logo
Plus   Neg
Share
Email

Intel Capital To Invest $253 Mln In India's Reliance Jio

Billionaire Mukesh Ambani's Reliance Industries Limited said Friday that Intel Capital will invest 1,894.50 crore Indian rupees or $253 million in Jio Platforms.

According to Reliance Industries, the investment values Jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore.

Intel Capital's investment represents a 0.39% equity stake in the Indian telecom operator Jio, which has more than 388 million subscribers.

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, Reliance Industries said in a statement.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
A new class-action lawsuit filed against Facebook accuses the company's photo and video-sharing app Instagram of illegally collecting biometric data of as many as 100 million users without their consent, according to reports. The lawsuit filed in a state court in California, alleges that Instagram uses its photo-tagging technology to create a database of users' facial features. Stein Mart, Inc. has joined the ever growing list of U.S. retailers who filed for bankruptcy protection amid the ongoing coronavirus (COVID-19) pandemic. The beleaguered off-price retailer filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Florida. United Airlines said it is adding up to 28 daily nonstop flights this winter to Florida, in its efforts to manage the impact of COVID-19. The airline is increasing services to 'destinations where customers most want to fly'. The new round trip services will connect customers in Boston, Cleveland, Indianapolis, Milwaukee, New York/LaGuardia, Pittsburgh and Columbus, Ohio to four popular Florida...
Follow RTT