Reliance Jio - Qualcomm deal: 5 things you should know about it
Qualcomm Ventures has invested ₹730 crore in Jio Platform making it the thirteenth investment in 12 weeks.
And the investment spree continues! Reliance Jio continues to attract investments with the latest one coming from Qualcomm Ventures, which is the investment arm of chipmaker Qualcomm.
Reliance Jio has bagged an investment of ₹730 crore in Jio Platform for an 0.15% equity stake in the company.
“Today, I am delighted to welcome Qualcomm Ventures as an investor in Jio Platforms. Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India,” Mukesh Ambani, chairman and managing director of RIL, said in a statement.
Here are top five things you should know about the deal:
1. The Qualcomm investment values Reliance Jio at an equity value of ₹4.91 Lakh crore and enterprise value of ₹5.16 Lakh crore.
2. This is the thirteenth deal in a span of mere twelve weeks.
3. With this deal, Reliance Jio has raised a total of ₹118,318.45 crore from leading investors such as Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF and Intel Capital.
4. The Reliance Jio - Qualcomm deal is the largest continuous funds raised by a company anywhere in the world.
5. The Qualcomm deal comes shortly after Intel Corporation invested ₹1,894.50 in the company for a 0.39% equity stake in the company on a fully diluted basis.