Qualcomm Ventures picks 0.15% stake in Jio for ₹730 crore

Qualcomm is the twelfth investor in Jio Platforms in the last few weeks

Qualcomm Ventures investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis. Representational image: Twitter

Qualcomm Ventures has picked up 0.15 per cent stake in Jio Platforms for ₹730 crore, Reliance Industries said on Sunday (July 12).

Qualcomm is the twelfth investor in Jio Platforms in the last few weeks.

“Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest up to ₹730 crore in Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.

Advertisement

“Qualcomm Ventures’ investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement.

Get breaking news and latest updates from India
and around the world on thefederal.com
FOLLOW US: