Reliance Industries’ wholly-owned subsidiary -- Reliance Industrial Investments and Holdings (RIIHL) has entered into binding agreements with Canada-based Brookfield Infrastructure Partners LP, and its institutional partners, for an investment of Rs 25,215 crore in the units to be issued by the Tower Infrastructure Trust.
At the closing of the transaction, the Trust will own 100% of the issued and paid up equity share capital of Reliance Jio lnfratel (RJIPL). RJIPL has a portfolio of approximately 130,000 telecom towers that form the backbone of Reliance Jio Infocomm’s network. The company plans to scale up to 1,75,000 towers eventually.
Reliance Industries 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.
