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Reliance Industries shares gain over 1 pc after Intel Capital deal

Jul 3, 2020, 12:51 IST

PTI

New Delhi, Jul 3 () Shares of Reliance Industries on Friday rose over 1 per cent after announcement that Intel Capital will buy 0.39 per cent stake in Jio Platforms.

The heavyweight stock jumped 1.42 per cent to Rs 1,785.65 on the BSE.

On the NSE, the stock advanced 1.40 per cent to Rs 1,785.

Electronic chip maker Intel's investment arm, Intel Capital, will buy 0.39 per cent stake in Mukesh Ambani's digital unit, Jio Platforms, for Rs 1,894.50 crore, the company said on Friday.

Intel Capital is 12th company to join the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore.

"Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," Reliance Industries and Jio Platforms said in a joint statement.

Intel Capital's investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis. SUM ANS ANS

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