Just when we thought that Reliance Jio will not close another deal, it announced infusion of capital from Intel Capital for 0.39% stake. The investment arm of Intel Corporation has decided to invest Rs 1894.50 crore in Jio. This is the 12th investment for Jio in last three months with a total of Rs 117,588.45 crore raised.

Jio has diluted its 25.09% of stake for the 12 investments. The latest investment values Jio platforms at an equity valuation of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Ambani said in a statement, “Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally. We are therefore excited to work together with Intel to advance India’s capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians.”

The investment spree began with Facebook investing Rs 43,574 crore in Reliance Jio for a 9.9% stake. Since then, several blue-chip backers like Vista Equity, General Atlantic, KKR, Silver Lake, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton, and Saudi Arabia’s wealth fund PIF have also infused funds in Jio.

The company declared itself debt-free last month which was 9 months before their projected date. While the fundraise was mostly propelled by the stake sale in the telecom vertical, it had also raised an additional Rs 53,124.20 crore through a rights issue of its shares. These issues were subscribed to 1.59 times, one of the largest ever by any non-financial entity in the last ten years.

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