Reliance Industries Limited (RIL) has set up a new joint venture company named Reliance Enterprise Intelligence Limited (REIL) in collaboration with Facebook Overseas Inc., a wholly-owned subsidiary of Meta Platforms, Inc. The venture will build, market, and distribute enterprise AI solutions across India.
Reliance Intelligence has made an initial investment of ₹2 crore, subscribing to 2 million equity shares of ₹10 each. At present, REIL functions as a wholly owned subsidiary of Reliance Intelligence; however, the structure will shift once the joint venture agreement with Meta becomes fully effective.
The company clarified in its exchange filing that “REIL, incorporated in India as a wholly-owned subsidiary of Reliance Intelligence, will become the joint venture company as per the amended and restated joint venture agreement (“JV Agreement”) with Facebook Overseas, Inc. (“Facebook”), a wholly-owned subsidiary of Meta Platforms, Inc. (“Meta”). REIL will be engaged, inter alia, in developing, marketing, and distributing enterprise AI services.”
Under the final joint venture structure, Reliance Intelligence will hold 70%, while Facebook (Meta) will hold 30%. Both partners have committed a combined initial investment of approximately ₹855 crore toward developing the platform and scaling its commercial adoption.
The filing further added, “The transaction does not fall within related party transactions, and none of the company’s promoters/promoter groups/group companies have any interest in the above transaction.”
By setting up this joint venture, Reliance is deepening its presence in next-generation digital technology, particularly in AI-led enterprise transformation. Moreover, the company clarified once again that the deal does not qualify as a related party transaction and that no promoters or group companies are financially involved.
Additionally, the company confirmed that no regulatory or government approvals were required for incorporating REIL, indicating a smooth and straightforward compliance route for the venture.
