Reliance Industries Ltd.

Reliance Industries (RIL) through a subsidiary, has agreed to subscribe to a 5% equity stake in NYSE listed Eros International PLC (Eros) at a price of $15 per share, which represents an 18% premium to last closing price. The transaction is subject to customary regulatory and other approvals.

Further, RIL and Eros International Media have agreed to partner in India to jointly produce and consolidate content from across India. The parties will equally invest up to Rs 1,000 crore in aggregate (approximately $150 million) to produce and acquire Indian films and digital originals across all languages.

RIL is India’s largest private sector company, to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ - currently ranking 203rd in terms of revenues, and 110th in terms of profits.