Meta subsidiary acquires 30% in Reliance’s REIL in Rs 853 crore share allotment
Reliance Industries on Wednesday announced a major change in the ownership structure of its step-down subsidiary, Reliance Enterprise Intelligence Limited (REIL), after completing a large share allotment worth Rs 853.20 crore.
The development comes after REIL issued 85,31,75,000 equity shares with a face value of Rs 10 each at par.
The total transaction value stands at Rs 853.20 crore and marks a strategic partnership between Reliance and global tech giant Meta Platforms, Inc., through its subsidiary.
