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Reliance Jio And Parent Company RIL Create Seven Subsidiaries To Manage Telecom and Content Business
Mukesh Ambani owned RIL has created seven subsidiaries, which will help Reliance Jio efficiently manage the content and telecom business with their various segments. (Photo by Manoj Patil/Hindustan Times via Getty Images)
Reliance Industries Limited (RIL) and Reliance Jio have devised seven subsidiaries to manage the telecom and content business, reports Telecom Talk, citing a highly placed Jio official. The move comes with the aim to capture a substantial part of the telecom industry revenue in India.
Recently, the telecom company, to solve the issues of last mile connectivity, made investments in Hathway and Den networks, purchasing large stakes in the two companies.
According to the anonymous official, the seven subsidiaries formed by RIL are Jio Content Distribution Holdings, Jio Internet Distribution Holdings, Jio Television Distribution Holdings, Jio Cable and Broadband Holdings, Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Digital Cableco Pvt. Ltd.
The official said, “These subsidiaries would undertake the businesses of broadcasting, broadband internet, wireless, data and hosting services to business and residential, retail customers, cable services distribution, voice over internet protocol and video on demand, among others.”
According to an analyst cited in the report, creating the subsidiaries will help Reliance Jio efficiently manage the content and telecom business with their various segments. According to the analyst from Mumbai based brokerage, by creating subsidiaries, like in the past, RIL can efficiently manage and raise capital during the later stages.
In October, RIL had purchased 66 per cent stake in Den Networks Ltd and 51.3 per cent in Hathway Cable and Datacom Ltd, while describing it as a ‘win-win’ outcome for customers, local cable operators, content producers and the companies. The purchase allowed Jio GigaFiber to expand to 50 million homes across 1,100 cities.
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