Qualcomm Ventures is an investment group of Qualcomm Inc. of America. In return for this investment, the company will get a 0.15 percent stake in Jio platforms. This is the 13th investment to be received by Reliance Jio in three months. The manner in which investment in Reliance is competing during the lockdown and corona crisis has surprised many analysts
- Reliance Jio is competing for investment in platforms
- Now Qualcomm announces investment of 730 crores
- 13 companies have invested in the last three months
American company Qualcomm Ventures has announced an investment of Rs 730 crore in Reliance Jio platforms. This is the 13th investment to be received by Reliance Jio in three months. This will help Jio platforms to move forward on the 5G plan.
Qualcomm Ventures is an investment group of Qualcomm Inc. of America. In return for this investment, the company will get a 0.15 percent stake in Jio platforms. This is the first attempt of a company of its kind to continuously raise funds in the world. That too, during the lockdown and corona crisis, the way in which the investment in Reliance is competing has surprised many analysts.
Support for 5G
With this investment, the total investment of Reliance Jio Platforms will be Rs 118,318.45 crore. This deal between Jio Platforms and Qualcomm will help Jio in preparing 5G infrastructure in the country. Both companies have been working in this field for many years.
The first major US company Facebook announced the investment in Reliance Jio platforms on 22 April. After this, there is a competition for investment in this company. Apart from Facebook and Qualcomm, Jio Platforms has invested in Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, El Catterton, PIF, and Intel Capital. Most of these companies are from the US. Qualcomm will also invest on the basis of the valuation of Jio as before, in which the equity valuation of Jio is estimated at Rs 4.91 lakh crore and the enterprise valuation is Rs 5.16 lakh crore. Qualcomm has invested in many sectors like dairy, transportation, defense before it in India.
This was the most discussed deal
The most popular deal of recent Reliance has been with the world’s tech company Facebook. Facebook has invested Rs 43,574 crore to buy a 9.99 percent stake in Jio Platforms. Silver Lake then announced a 1.15 percent stake with an investment of Rs 5,656 crore, Vista Equity announced a 2.32 percent stake with an investment of Rs 11,367 crore and General Atlantic announced a 1.34 percent stake with an investment of Rs 6,598 crore.
KKR also announced a 2.32 percent stake in Jio Platforms with an investment of Rs 11,367 crore and Mubadala announced a 1.85 percent stake with an investment of Rs 9,093 crore.