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RIL to form new unit for Jio and other digital businesses, transfer Jio’s Rs 1.08 lakh crore debt to its balance sheet

Updated : October 25, 2019 11:52 PM IST

The RIL board approved the formation of the subsidiary and the investment of Rs 1.08 lakh crore in the form of a rights issue of optionally convertible preference shares (OCPS).
The new subsidiary will also acquire RIL’s equity investment of Rs 65,000 crore in Jio.
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