Reliance and Meta Form Rs 855 Crore AI Joint Venture
The new entity, Reliance Enterprise Intelligence Limited, was incorporated to develop sovereign enterprise AI services for the Indian market.
Deal Structure and Investment
Reliance Industries Limited (RIL) confirmed that its subsidiary had officially incorporated a joint venture with an arm of Meta Platforms. The new entity is named Reliance Enterprise Intelligence Limited (REIL). According to a company filing, the venture was formed with a joint initial investment of approximately Rs 855 crore.
The agreement specifies the ownership structure for the new company. - Reliance Intelligence Limited will hold a 70% stake. - Meta's subsidiary will hold the remaining 30%. The venture's stated goal is to "develop, market, and distribute enterprise AI services" specifically for the Indian market.
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