Reliance Industries Limited announced that Reliance Enterprise Intelligence Limited (REIL) has ceased to be a wholly owned step-down subsidiary after Facebook Overseas, Inc., a Meta Platforms subsidiary, acquired a 30% stake. Reliance Intelligence Limited retains 70%, marking a new phase of collaboration in enterprise intelligence solutions.
Reliance Industries Limited has disclosed a significant restructuring in its digital ecosystem. Reliance Enterprise Intelligence Limited (REIL), earlier a wholly owned step-down subsidiary, has now become a step-down subsidiary following a fresh equity allotment.
Key Highlights
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REIL allotted 85.31 crore equity shares of Rs. 10 each at par value
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Reliance Intelligence Limited received 59.66 crore shares worth Rs. 596.6 crore
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Facebook Overseas, Inc. acquired 25.65 crore shares worth Rs. 256.6 crore
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Post-allotment, Reliance Intelligence holds 70% and Facebook holds 30% of REIL’s equity capital
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The transaction with Facebook is not a related party deal, while the one with Reliance Intelligence is conducted on an arm’s length basis
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All necessary approvals have been secured, with no promoter group involvement in the transaction
This strategic move strengthens Reliance’s enterprise intelligence capabilities while bringing Meta Platforms into closer collaboration with India’s largest conglomerate. The partnership is expected to accelerate innovation in data-driven solutions and digital transformation.
Source: Reliance Industries Limited announcement to BSE, NSE, Luxembourg Stock Exchange, and Singapore Exchange