Reliance Industries, a company of billionaire businessman Mukesh Ambani, said on Sunday that Qualcomm Ventures has invested Rs 730 crore for a 0.15 percent stake in Jio platforms. With this, more than Rs 1.18 lakh crore has been invested in the Jio platform since April. Qualcomm is the 12th investor in Jio platforms over the past few weeks.
The company said in a statement that Qualcomm Ventures will get 0.15 percent equity stake in Jio platforms in return for investment. RIL said the investment would strengthen the alliance with Qualcomm, helping Jio to expand state-of-the-art 5G infrastructure and services in India. Qualcomm is known worldwide for its superior wireless technology. With this deal, Reliance has so far sold 25.24 percent stake in Jio platforms. Jio has raised a total of Rs 1,18,318.45 crore.
Investment of Rs 730 crore for 0.15% equity
The statement said, “Qualcomm Ventures, a subsidiary of American Qualcomm Corporate, announced an investment of Rs 730 crore for 0.15% equity in Jio platforms.” The platforms were valued at Rs 4.91 lakh crore and the enterprise value was Rs 5.16 lakh crore.
What did Mukesh Ambani say
Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “I am delighted to welcome Qualcomm Ventures as an investor in the J platform today. Qualcomm has been an important partner for many years and we have a strong and secure There is a shared vision of wireless and digital manufacturing. Networking and expanding the benefits of digital connectivity for all in India.
Qualcomm Incorporated CEO Steve Mollenkauf said, “Jio Platforms has led the digital revolution in India through its comprehensive and technological capabilities. We look forward to playing a role in Jio’s vision to advance India’s digital economy.”