Qualcomm investing Rs 730 cr in Jio Platforms for 0.15% stake
Qualcomm has invested Rs 730 cr in Jio Platforms for 0.15% stake, through its investment arm Qualcomm Ventures.
The investment comes at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Today, I am delighted to welcome Qualcomm Ventures as an investor in Jio Platforms. Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India."