Jio BLAST eSports Private Limited ceasing to be a subsidiary of the Company.
Awaiting price reaction for this filing.
Reliance Industries informed exchanges that Jio BLAST eSports Private Limited has stopped being its subsidiary and is now a 50:50 joint venture company. The change happened because BLAST Esports Limited was allotted 50 lakh equity shares of Rs 10 each (totalling Rs 5 crore) at par in Jio BLAST, which diluted RISE Worldwide's (RIL's wholly-owned arm) stake from 100% to 50%. Jio BLAST was originally set up on April 18, 2025 as a wholly-owned unit of RISE Worldwide to enter the Indian esports business. BLAST Esports is not related to Reliance's promoters or group companies, and no regulatory approvals were needed for this share allotment.
Reliance has not lost money on this; the eSports venture has simply transitioned from a fully-owned unit to a 50:50 partnership with global esports player BLAST. The financial impact is minor (Rs 5 crore capital infusion by the JV partner), but it gives Reliance a global partner for its esports ambitions without taking full execution risk.