Reliance Industrial Investments and Holdings Limited Acquires NEWJ
Deepthi | Myequity news | Date : 28-11-2018 10:50:00 IST
Reliance Industrial Investments and Holdings Limited (“RIIHL”), the wholly owned subsidiary of Reliance Industries Limited (“the Company”) has invested in New Emerging World of Journalism Private Limited (“NEWJ”). As initial tranche, RIIHL has subscribed to 30,000 Equity Shares and 125 Compulsory Convertible Debentures for total cash aggregating to INR 10.3 million and consequently NEWJ has become subsidiary of RIIHL and the Company. About Reliance Industries Limited:
About New Emerging World of Journalism Private Limited:
NEWJ is an early stage technology start up incorporated in India in January 2018. NEWJ’s business focus areas are production and curation of content for the emerging social and digital media ecosystem. Further, NEWJ will also be developing data enabled technology products which allow for integrated models of reporting and distribution.
Reliance Industries Limited (RIL) is an Indian conglomerate holding company headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance is one of the most profitable companies in India, the largest publicly traded company in India by market capitalization.