Facebook Overseas acquires 30% stake in RIL firm for ₹257 crore

Reliance Industries Ltd Announces Allotment of Equity Shares to Subsidiaries

Reliance Industries Ltd (RIL) has informed stock exchanges that its step-down wholly owned subsidiary, Reliance Enterprise Intelligence Ltd (REIL), has allotted 85.31 crore equity shares to Reliance Intelligence Ltd (Reliance Intelligence) and Facebook Overseas, Inc. (Facebook), a wholly owned subsidiary of Meta Platforms, Inc.

Key Details:

• Equity Shares Allotted: 85,31,75,000 equity shares of face value of ₹10 each, at par
• Breakdown: 59,66,22,500 equity shares to Reliance Intelligence (₹596.6 crore) and 25,65,52,500 equity shares to Facebook (₹256.6 crore)
• Stake Ownership: Reliance Intelligence holds 70% of the total equity capital of REIL, while Facebook holds 30%

Following the allotment, REIL has ceased to be a step-down wholly owned subsidiary and has become a step-down subsidiary of RIL, the company said in a filing.

Necessary Approvals and Transaction Details:

• Necessary Approvals: All necessary approvals have been obtained for the said investment
• Transaction Type: The transaction between REIL and Facebook is not a related party transaction, while the transaction between REIL and Reliance Intelligence is a related party transaction on an arm’s length basis
• Promoter Interest: None of RIL’s promoter/promoter group/group companies have any interest in the above transaction