RIL to pump in Rs 1.08L crore in new digital services subsidiary

TIL Desk/Business/New Delhi/ Reliance Industries on Friday said that it will set up a wholly-owned subsidiary for its digital platform initiatives with an investment of Rs 1.08 lakh crore.

Accordingly, the company’s move will lead to the creation of the largest digital services platform company in India. RIL’s digital platforms include the categories MyJio, JioTV, JioCinema, JioNews and JioSaavn.

The company said in a statement that the move will ensure that monetisation opportunities accrue to the shareholders efficiently.

“There is no impact in the value pre and post reorganisation for any shareholder; There is no impact on the consolidated debt of RIL,” the RIL statement said.