Mukesh Ambani is restructuring Reliance Industries-little by little
The move is targeted to facilitate the planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals
- Feb 18, 2020,
- Updated Feb 19, 2020 1:05 PM IST
Reliance Industries (RIL), India's largest private company by market value, has initiated a re-amalgamation process within the company by spinning off assets and balance sheets to form an umbrella of independent companies. The move is targeted to facilitate the planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals.
A couple of months back, the retail business firms of RIL - grocery, lifestyle and fashion, digital, and the e-commerce business JioMart - have been parked under Reliance Retail Ventures Ltd (RRVL) as part of the restructuring. Mukesh Ambani-controlled firm has created a subsidiary in October last year to bring together all the digital and mobility businesses under a company, called Jio Platforms Ltd (JPL). RIL has been planning to bring strategic investors in these businesses.
JPL has become the parent of Reliance Jio Infocomm, and applications like MyJio, JioTV, JioCinema, JioNews and JioSaavn, besides content-generation ventures. But it will be a direct subsidiary of RIL. Thus, Reliance Jio will become a step down subsidiary of RIL. For making JPL debt-free, the parent company has infused Rs 1.08 lakh crore in it. They want to build JPL like Alibaba and Google, which claim high valuations in the stock markets.
India ranks No.1 on this list! You can thank Mukesh Ambani for the feat
Reliance Industries (RIL), India's largest private company by market value, has initiated a re-amalgamation process within the company by spinning off assets and balance sheets to form an umbrella of independent companies. The move is targeted to facilitate the planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals.
A couple of months back, the retail business firms of RIL - grocery, lifestyle and fashion, digital, and the e-commerce business JioMart - have been parked under Reliance Retail Ventures Ltd (RRVL) as part of the restructuring. Mukesh Ambani-controlled firm has created a subsidiary in October last year to bring together all the digital and mobility businesses under a company, called Jio Platforms Ltd (JPL). RIL has been planning to bring strategic investors in these businesses.
JPL has become the parent of Reliance Jio Infocomm, and applications like MyJio, JioTV, JioCinema, JioNews and JioSaavn, besides content-generation ventures. But it will be a direct subsidiary of RIL. Thus, Reliance Jio will become a step down subsidiary of RIL. For making JPL debt-free, the parent company has infused Rs 1.08 lakh crore in it. They want to build JPL like Alibaba and Google, which claim high valuations in the stock markets.
India ranks No.1 on this list! You can thank Mukesh Ambani for the feat