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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intel Corporation    INTC

INTEL CORPORATION

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Intel Capital to Invest in Reliance's Jio Platforms

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07/02/2020 | 11:20pm EDT

By P.R. Venkat

Intel Capital plans to invest 18.95 billion rupees ($253.5 million) in Jio Platforms, becoming the latest foreign firm to seek a piece of the Indian telecommunications giant.

The investment by Intel Capital, which is a division of Intel Corp., will give it an equity stake of 0.39%, putting Jio's equity value at INR4.91 trillion, Jio's owner, Reliance Industries Ltd., said Friday.

With this latest investment, Jio would have so far raised INR1.17 trillion, the company said.

Facebook Inc., Silver Lake, Vista Equity Partners, KKR & Co., General Atlantic LLC., the Abu Dhabi Investment Authority and sovereign investor Mubadala Investment Co. are among Jio's investors.

Reliance has spent more than $30 billion building upstart mobile operator Reliance Jio Infocomm Ltd., which is part of Jio Platforms.

Jio has attracted more than 388 million subscribers with inexpensive mobile-data plans and is now moving into e-commerce, as legions of people in the country of 1.3 billion begin transacting online for the first time.

Controlled by India's richest man, Mukesh Ambani, Reliance has investments spanning across media, retail and natural resources.

The company is also India's largest private sector firm with consolidated turnover of $87.1 billion, earning a net profit of $5.3 billion for the year ended March 31.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

Corrections & Amplifications

This item was corrected at 0351 GMT to reflect that Jio Platforms will have so far raised INR1.17 trillion with the Intel Capital investment. The original version incorrectly said the amount was INR117.59 billion in the third paragraph.

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK -0.85% 249.83 Delayed Quote.22.76%
INTEL CORPORATION 1.72% 49.13 Delayed Quote.-19.30%
KKR & CO. INC. 1.20% 36.23 Delayed Quote.22.73%
RELIANCE INDUSTRIES LTD 7.05% 2150.6 End-of-day quote.42.04%
SILVER 7.18% 25.97 Delayed Quote.37.71%
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Financials (USD)
Sales 2020 75 117 M - -
Net income 2020 19 594 M - -
Net Debt 2020 12 931 M - -
P/E ratio 2020 10,7x
Yield 2020 2,69%
Capitalization 209 B 209 B -
EV / Sales 2020 2,95x
EV / Sales 2021 3,00x
Nbr of Employees 110 800
Free-Float 99,9%
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Technical analysis trends INTEL CORPORATION
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 45
Average target price 57,96 $
Last Close Price 49,13 $
Spread / Highest target 104%
Spread / Average Target 18,0%
Spread / Lowest Target -8,41%
EPS Revisions
Managers
NameTitle
Robert Holmes Swan Chief Executive Officer & Director
Omar S. Ishrak Independent Chairman
Ann-Marie Holmes Vice President-Operations & Manufacturing
George S. Davis Chief Financial Officer & Executive Vice President
Daniel J. McKeon Vice President-Information Technology Group
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