Qualcomm invests 7.3 billion rupees in Reliance digital unit
FILE PHOTO: Commuters are reflected on an advertisement of Reliance Industries' Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh Andrade/File Photo
The partnership will help Jio Platforms, the unit that houses Reliance’s telecoms venture Jio Infocomm, to “roll out advanced 5G infrastructure and services for Indian customers”, Reliance said in a statement. With this new investment, Reliance has sold a 25.2% stake in Jio Platforms to investors in a funding spree that began late April, raising $15.69 billion.
Reliance chairman and billionaire tycoon Mukesh Ambani has always pitched Jio Infocomm as a tech company instead of a traditional telecoms firm.
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