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Reliance Jio shifts control of optical fibre, tower units to RIIHL trusts

Besides, Tower Infrastructure Trust acquired control of RJIPL by purchasing 51% of shares of RJIPL

Press Trust of India  |  New Delhi 

Reliance Industries
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has transferred control of its fibre and mobile tower units to two infrastructure investment trusts set up by Ltd (RIIHL).

The optical fibre cable infrastructure unit, Digital Fibre Private Ltd (JDFPL) has allocated shares worth Rs 500 crore to Infocomm Ltd (RJIL) on March 31, 2019, according to a regulatory filing.

Also, mobile tower unit Infratel Private Ltd (RJIPL) has allocated shares worth Rs 200 crore to RJIL, it said.

On the same day, Digital Fibre Infrastructure Trust acquired control of JDFPL by purchasing 51 per cent of the equity share capital of JDFPL for Rs 262.65 crore.

Besides, acquired control of RJIPL by purchasing 51 per cent of shares of RJIPL for Rs 109.65 crore, the filing said.

"This will result in significant deleveraging of the consolidated balance sheet of the company as at March 31 2019," it said.

Both trusts have been set up by RIIHL, a wholly-owned subsidiary of RIL as a sponsor, and have been granted the certificate of registration as Infrastructure Investment Trust by market watchdog Sebi.

First Published: Tue, April 02 2019. 15:51 IST
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