Meta Acquires 30% Stake in Reliance's REIL Through Rs 853 Crore Share Allotment

Reliance Industries Ltd restructured its step-down subsidiary, Reliance Enterprise Intelligence Ltd (REIL), following a share allotment totaling Rs 853.2 crore. Of the 85.3 crore equity shares issued, Reliance Intelligence Ltd received 70%, while Facebook Overseas, a Meta Platforms subsidiary, acquired a 30% stake. This investment makes REIL a step-down subsidiary with Meta as a minority partner. All necessary approvals were obtained, and the transactions were conducted on an arm's length basis without promoter group interest.