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.
In the past