Qualcomm Invests Rs. 730 Crore in Jio Platforms - lewisfathish

Just when you think Jio Platforms is done racking up unsoured investments, you learn that another investor has joined the ranks of Facebook, Silver Lake, and many others. The latest addition to the built is American chipmaker Qualcomm, who has poured Rs. 730 crore (around $97 1000000) into Jio Platforms. That's a massive investment, in and of itself, but gets Qualcomm a meagerly 0.15 percent stake in the company.

This investment makes Qualcomm Ventures the 13th investor in India's largest telecom and engineering science giant. Jio Platforms has now increased Rs 118,318.45 crore (over $15.7 billion) in total – at an equity respect of Rs. 4.91 trillion (around $65 billion) and an endeavour economic value of Rs. 5.16 trillion (roughly $68 billion), atomic number 3 per reports.

Qualcomm Ventures has made the investing happening a 'in full-diluted basis' and will help Jio Platforms roll out advanced 5G infrastructure and services in India. "Qualcomm offers deep technology know-how and insights that will helper U.S. fork out along our 5G visual sensation and the member transformation of India for some people and enterprises," RIL chairman and MD Mukesh Ambani said in an official argument.

Anterior to Qualcomm, we've already seen a hoard of foreign investors production line up to snap up a put together of Jio Platforms. This includes social media goliath Facebook, who kicked off the domino outcome by pick dormy a 10% market share. The companionship has now oversubscribed a 25.24 percent stake to high-visibility investors, like TPG, General Ocean, Intel, View, and Saudi Arabian's ADIA among others over the past 12 weeks.

These investments accept played a major role in making Reliance Industries net-debt free ahead of Ambani's secure goal of 2022. It's truly astonishing as the company achieved this milepost during the COVID-19 lockdown. Jio is the largest telecom operator in India with close to 400 million subscribers. The company is now looking to get the most come out of its growth and valuation aside going public foreign. The rumors of Trust Jio exploring an IPO happening the sought US exchange – Nasdaq – birth been making rounds of the Cyberspace over the ancient few weeks.