Corporate Announcement
Security Code : 500325    Company : RELIANCE    
 
Announcement under Regulation 30 (LODR)-AcquisitionDownload PDF Download XBRL
  Exchange Received Time  27/11/2019 22:55:28         Exchange Disseminated Time   27/11/2019 22:55:34              Time Taken   00:00:06
This is in furtherance to the disclosure made by the Company on October 25, 2019 with respect to setting up a wholly-owned subsidiary (WOS) for Digital Platform initiatives.

It is hereby informed that the WOS has been incorporated and the Company, as a subscriber to the memorandum of association of the WOS, has invested Rs 1,00,000 to acquire 10,000 equity shares of Rs. 10 each at par of the WOS namely 'Jio Platforms Limited' (JPL). JPL was incorporated on November 15, 2019 and is yet to commence its business operations.

The investment in JPL does not fall within related party transaction and the promoter/ promoter group/ group companies do not have any interest in JPL. No governmental or regulatory approvals were required for the said investment.
 

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