United States public multinational corporation Qualcomm has invested Rs 730 crore in Jio Platforms, Reliance Industries Limited said in a s...
United States public multinational corporation Qualcomm has invested Rs 730 crore in Jio Platforms, Reliance Industries Limited said in a stock exchange filing on Sunday. This buys Qualcomm a 0.15% stake in the Mukesh Ambani-headed company, for which this is the 13th consecutive deal since March.
The announcement means Reliance Industries has now sold off 25.24% of its stake in Jio, and raised Rs 118,318.45 crore in total. Qualcomm is the third strategic investor in Jio Platforms after Facebook Inc and American semiconductor company Intel, News18 reported.
“Qualcomm is the world’s leading wireless technology innovator and the driving force behind the development, launch and expansion of 5G,” Reliance Industries said in the corporate filing. Reliance Industries Chairperson Mukesh Ambani said he was “delighted” to welcome Qualcomm on board.
“Today, I am delighted to welcome Qualcomm Ventures as an investor in Jio Platforms,” Ambani said in a statement. “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.”
Investments in Reliance Jio since April
On June 18, Reliance Industries announced that Saudi Arabia-based wealth fund Public Investment Fund will invest Rs 11,367 crore in Jio Platforms...
