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Intel Capital picks up 0.39% stake in Jio Platforms for Rs 1894.50 cr

The latest fund raising news comes on the back of RIL's announcement that it has turned net debt free ahead of its March 2021 deadline

Mukesh Ambani
Premium

The digital services segment is expected to be the key contributor for Reliance Industries going ahead

Aneesh PhadnisRam Prasad Sahu Mumbai
Reliance Industries (RIL) on Friday announced a stake sale of 0.39 per cent in its digital services subsidiary, Jio Platforms, to Intel Capital for Rs 1,894.50 crore.

The latest fundraising comes two weeks after RIL announced that it had turned net debt-free well ahead of its deadline of March 2021. As of March 31, Reliance had a net debt of Rs 1.61 trillion.

Intel Capital is an arm of Intel, the world's largest semiconductor manufacturer. It joins 11 other investors, including sovereign funds and private equity firms, which now collectively own 25.09 per cent in Jio Platforms.

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