Reliance Industries Ltd.

Reliance Industries’ (RIL) wholly-owned subsidiary -- Reliance Industrial Investments and Holdings (RIIHL) has entered into an agreement with BIF IV Jarvis India, an affiliate of Brookfield Asset Management Inc. (Brookfield) for an investment by Brookfield (along with co-investors) of Rs 25,215 crore in the units proposed to be issued by the Tower Infrastructure Trust (Trust).

RIIHL is the Sponsor of the Trust and the Trust currently holds 51% of the issued and paid up equity share capital of Reliance Jio Infratel (RJIPL) to which the tower assets undertaking of Reliance Jio Infocomm (RJIL) was transferred as a going concern pursuant to a scheme of arrangement sanctioned by NCLT, Ahmedabad bench. Proceeds from the investment by Brookfield will be used to repay certain existing financial liabilities of RJIPL and acquiring the balance 49% of equity share capital of RJIPL, currently held by RIL.

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.