Qualcomm Inc, one of the world’s top wireless technology companies, will invest Rs 730 crore in Jio Platforms in exchange for a 0.15 percent …
Qualcomm Inc, one of the world’s top wireless technology companies, will invest Rs 730 crore in Jio Platforms in exchange for a 0.15 percent stake. The company is the third strategic investor in Jio after Facebook Inc and American semiconductor giant Intel.
Jio Platforms, a unit of Reliance Industries Limited, runs the telecom enterprise Jio Infocomm, India’s biggest, as well as movie, news and music apps.
The deal with Qualcomm—the 13th such investment in 12 weeks—takes the total stake that Reliance sold in Jio Platforms to 25.24 percent. Mumbai-based RIL has now raised a combined Rs 118,318.45 crore from some of the world’s leading tech investors in the largest fundraising exercise by a company anywhere in the world and during a global lockdown at that.
