Intel Corporation, one of the biggest names in the technology industry, known for its association with other tech giants, like Microsoft and Apple, that use their technology, has made its presence in the Indian market through its finance wing, Intel Capital, by buying stakes in India’s one of the most profitable and valuable company, Reliance Industries. The California based company has invested in the virtual goldmine of Reliance Industries, Reliance Jio, that has only fetched more and more glories in the last few years.
Intel Capital’s venture entailing an expenditure of 1,894 crore, has earned them 0.39% of the stakes in the company. This goes on to show the augmenting trust in the reliability of Jio as an entity. Jio Platforms’s total shares are worth 4.91 lakh crores, with a total enterprise value of worth 5.16 lakh crore.
Intel capital, just like its parent company, Intel Corporation, is known for investing and exploring opportunities in innovative and path-breaking ventures throughout the world, this particular move is seen as one step in that direction. Intel Capital has also been at the forefront of all the developments revolving around the futuristic, 5G technologies, as its potential is immense and the prospects are bright.
In a statement obtained by the Livemint, Mukesh Ambani, CMD of reliance industries, expressing his jubilation in development, said: “We are therefore excited to work together with Intel to advance India’s capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians”.
Mukesh Ambani, at the back of recent success in making Reliance a debt-free entity, had climbed the ladder of the worlds’ wealthiest to number 8 with a total worth of $ 64.8 Billion
