Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
RELIANCE · price
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Awaiting price reaction for this filing.
Reliance Industries' board approved a joint venture with Meta Platforms, Inc. to develop, market, and distribute Enterprise AI Services. A new company (JVCo) will be incorporated with RIL holding 70% and Meta holding 30% through a new wholly owned subsidiary called 'Reliance Intelligence Limited.' RIL and Meta have jointly committed an initial investment of approximately Rs. 855 crore (about US$ 100 million). The WOS will focus on building, acquiring, and investing in AI-related ventures. The deal is not a related party transaction and is expected to close in Q4 CY 2025, subject to regulatory approvals. The announcement was made by the Chairman at Reliance's AGM.
Positive for shareholders as it pairs RIL with a marquee global technology partner (Meta) to build a serious AI business, lending credibility and technical depth to Reliance's AI ambitions. The initial investment is modest relative to RIL's size, so near-term financial impact is limited, but the long-term strategic optionality in enterprise AI is significant.