- Reliance Industries Limited (RIL) will set up a wholly-owned subsidiary (WOS), which will be a holding company of RJIL (Reliance Jio Infocomm). The subsidiary will hold the complete digital bouquet of offerings viz., existing Jio apps (news and entertainment, social media, etc.), tech capabilities and investments in other technology companies, which were so far housed in RIL's standalone books.
- RIL will infuse INR1.08t of equity in RJio through the subsidiary in turn transferring liabilities of a similar amount to RIL.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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