Joint Venture25 Oct 2025, 12:00 pm
Reliance Industries Subsidiary Incorporates Joint Venture Company with Facebook's Subsidiary
AI Summary
Reliance Intelligence Limited, a wholly owned subsidiary of Reliance Industries Ltd, has incorporated Reliance Enterprise Intelligence Limited (REIL) on October 24, 2025. REIL will be a joint venture company with Facebook Overseas, Inc., a subsidiary of Meta Platforms, Inc., with Reliance Intelligence holding 70% and Facebook holding 30%. The joint venture will engage in developing, marketing, and distributing enterprise AI services. The initial investment committed by both parties is approximately Rs. 855 crore. This transaction does not fall under related party transactions and does not require any governmental or regulatory approvals. The company received an intimation from Reliance Intelligence on October 24, 2025.
Key Highlights
- Reliance Intelligence incorporated Reliance Enterprise Intelligence Limited (REIL) as a joint venture company with Facebook Overseas, Inc.
- REIL will engage in developing, marketing, and distributing enterprise AI services
- Reliance Intelligence will hold 70% and Facebook will hold 30% in REIL
- The initial investment committed by both parties is approximately Rs. 855 crore
- The transaction does not require any governmental or regulatory approvals