ENABLING ACCESS TO WORLD CLASS TECHNOLOGY PLATFORMS ACROSS HEALTHCARE, EDUCATION AND AGRICULTURE THAT HAVE SOCIETAL BENEFIT
Mumbai: The Relaiance Industries Ltd. (RIL) announced that it is going to set up the country’s largest digital platform with an investment of Rs 1.08 lakh crore.
The RIL Board of Directors Friday approved the formation of a wholly-owned subsidiary(WOS) for digital platform initiatives. It has also approved the proposal to invest Rs. 1,08,000 crore in the WOS.
The WOS will also acquire RIL’s equity investment of Rs. 65,000 crore in RJIL.
Commenting on the formation of the Platform Company, Mukesh D. Ambani, chairman and managing director, RIL said:“This new Company will be a truly transformational and disruptive digital services platform. It will bring together India’s No.1 connectivity platform, leading digital app ecosystem and world’s best tech capabilities globally, to create a truly Digital Society for each Indian. Jio has been heralding the digital services revolution in India and will continue to do so in the years to come.
Given the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners. We will induct the right partners in our Platform Company, creating and unlocking meaningful value for RIL shareholders“.