Qualcomm picks 0.15% stake in Jio for Rs 730 crore

Representational photo.

NEW DELHI: Qualcomm Ventures has picked up 0.15 per cent stake in Jio Platforms for Rs 730 crore, Reliance Industries said on Sunday.
Qualcomm is the 12th investor in Jio Platforms in as many weeks.
“Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest up to Rs 730 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
“Qualcomm Ventures’ investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement. PTI ANZ

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