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
Santa Cruz Bicycles LLC has recalled certain model year 2020 bicycles with aluminum frames citing fall risks, according to the U.S. Consumer Product Safety Commission. The recall involves about 2,900 units of model year 2020 Auminum Santa Cruz and Juliana Bicycles. In addition, about 216 were sold in Canada. AstraZeneca is mulling an additional global trial to confirm the 90% efficacy rate of its Covid-19 vaccine candidate at lower dosage, Bloomberg news quoted Chief Executive Officer Pascal Soriot as saying. In an interview, Soriot noted that instead of adding the trial to an ongoing U.S. process, the company might launch a fresh study to evaluate efficacy of lower dosage of its vaccine that perform U.S. airline Delta Air Lines, Inc. and its Italian codeshare partner Alitalia are planning to launch quarantine-free, COVID-free flights between U.S. and Europe through new testing protocols, starting in December. In a statement, Delta said it has signed deals with airports and governments eliminating quarantine requirements on COVID-tested flights connecting Atlanta and Rome.
Follow RTT