Reliance Industries to form a digital subsidiary with ₹1 trillion, Jio to be net debt-free1 min read . Updated: 25 Oct 2019, 09:56 PM IST
- The proposed consolidated structure will be compliant with all statutory requirements, RIL said
- The subsidiary will acquire RIL’s equity investment of ₹65,000 crore in its telecom subsidiary Reliance Jio Infocomm Ltd
MUMBAI : The Board of Directors of Reliance Industries (RIL) today approved the formation of a wholly-owned subsidiary for digital initiatives with the investment of ₹1,08,000 crore in the subsidiary through optionally convertible preference shares, the company said in a press statement.
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