Reliance Industries (RIL) has entered into strategic investment and partnership with Den Networks and Hathway Cable and Datacom (Hathway). These strategic investments are in furtherance of Reliance’s mission of connecting everyone and everything, everywhere always at the highest quality and the most affordable price and transforming India’s digital landscape.
The company makes primary investment of Rs 2,045 crore through a preferential issue and secondary purchase of Rs 245 crore from the existing promoters for a 66% stake in Den Networks. Besides, the company makes primary investment of Rs 2,940 crore through a preferential issue for a 51.3% stake in Hathway.
RIL would also make open offers in Den Networks and Hathway as well as for GTPL Hathway, a company jointly controlled by Hathway with 37.3% stake and Hathway Bhawani Cabletel and Datacomm, a subsidiary of Hathway, as required under SEBI Takeover Regulations.
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.
