It’s been raining cheques for Jio Platforms and the latest one, which came on Sunday, is from Qualcomm Ventures, the investment arm of Qualcomm Incorporated. Qualcomm Ventures has committed to invest up to ₹ 730 crore, which will translate into 0.15% equity stake in Reliance Industries’ digital unit on a fully diluted basis.
Qualcomm is the 12th investor in Jio Platforms in as many weeks. The mega telecom firm has so far raised ₹1.18 lakh crore by cumulatively selling 25.24% stake to various global firms.Qualcomm Ventures’ investment comes at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore for Jio.
“The investment will deepen the ties between Qualcomm and Jio Platforms, to support Jio Platforms on its journey to rollout advanced 5G infrastructure and services for Indian customers,” the company said.
Mr. Chander Sawhney
Partner & Head-Valuation and Biz Modeling
+91 11 40622252