Reliance Industries Ltd.

Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) and UV Asset Reconstruction Company (UVARC) have emerged as highest bidders in asset sale process of debt-ridden Reliance Communications (RCom) from which lenders expect to recover Rs 25,000 crore. Jio has placed Rs 4,700-crore bids for mobile tower and fibre assets of Reliance Infratel (RITL), a subsidiary of RCom.

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.