RIL gains as Intel Capital picks up stake in Jio


Published On: Friday, July 3, 2020 | By:

RIL gains as Intel Capital picks up stake in Jio

Shares of Reliance Industries (RIL) gained in Friday's trade after the announcement that the American semiconductor giant Intel Corp will invest Rs 1,894.50 crore for a 0.39 per cent stake in Jio Platforms. The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, as per the company release. This will be the twelfth international deal for Reliance's digital arm in less than three months, taking the total investment amount to Rs 117,588.45 crore. Other deals were made with Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, L Catterton and TPG.

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