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Qualcomm Ventures, the investment arm of Qualcomm Incorporated has invested up to ₹ 730 crore, which will translate into 0.15% equity stake in Reliance Industries' digital unit on a fully diluted basis.
Qualcomm is the 12th investor in Jio Platforms.
Trilegal acted for Qualcomm Ventures and the team was led by Partners Sridhar Gorthi and Kunal Chandra along with Counsel Kabeer Mathur, Principal Consultant Rajesh Modani, Senior Associates Aditi Jain and Shraddha Jha and Associate Chandni Ochani.
Technology law aspects of the deal were led by Partner Rahul Matthan, assisted by Counsel Jyotsna Jayaram and Associates Divyanshu D, Stuti Shah and Shreya Ramann.
The competition law aspects of the deal were led by Nisha Kaur Uberoi, Partner & National Head – Competition Law; assisted by Shravani Shekhar, Counsel, Harshita Singh Parmar, Senior Associate; Sarthak Pande and Vayshnavi Ganesh, Associates.
AZB & Partners acted for Jio Platforms and the deal was led by Partners Ashwath Rau and Nilanjana Singh.
Partner Bharat Budholia advised on competition law aspect.
Davis Polk & Wardwell acted as international legal counsel for Jio Platforms on this deal.
Before Qualcomm, Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, picked up 0.39% equity stake in Jio Platforms for Rs 1,894.50 crore.