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RIL’s arm planning to give up to Rs 750 crore loan to Indian Film Combine: Report

25 Jun 2018 Evaluate

Reliance Industries’ (RIL) wholly owned subsidiary Reliance Industrial Investments Holdings (RIIHL) is reportedly planning to provide a loan of up to Rs 750 crore to the Indian Film Combine for corporate purposes. RIIHL has acquired a 65% stake in Indian Film Combine for Rs 1,105 crore.

The company had bought the 65% stake from Indian Film Combine’s existing shareholders namely 20% from the US-based Xander Group’s Mauritian arm for Rs 340 crore and 45% from entities belonging to the promoter group of RIL for Rs 765 crore, while the remaining is held by the Maker Group.

RIL is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Reliance Industries Share Price

1306.65 -14.75 (-1.12%)
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