Commenting on the formation of the Platform Company, Shri Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: \u201cThis new Company will be a truly transformational and disruptive digital services platform. It will bring together India\u2019s No.1 connectivity platform, leading digital app ecosystem and world\u2019s best tech capabilities globally, to create a truly Digital Society for each Indian. Jio has been heralding the digital services revolution in India and will continue to do so in the years to come.<\/p>\n \u00abGiven the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners. We will induct the right partners in our Platform Company, creating and unlocking meaningful value for RIL shareholders,\u201d Ambani ended.<\/p>\n Reliance Industries official communication assures that like global technology peers, the Digital Platform Company with negligible leverage makes a compelling investment proposition for both strategic and financial investors, many of whom have evinced strong interest in partnering with us. It will have significant financial strength to address the Digital Services opportunity in India.<\/p>\n The proposed consolidated structure will be compliant with all statutory requirements.<\/p>\n Digital Platforms already operated by the group<\/span><\/strong><\/p>\n As relates to Digital Platforms, Reliance Group has been developing and fostering a vibrant digital ecosystem through various digital applications, tools and platforms (Digital Platforms) spanning self-care, information, entertainment, chat, utility tools etc.<\/p>\n Most of these Platforms are best in class with high customer engagement metrics anddifferentiated features in their respective categories. Those are:<\/p>\n a) MyJio: An omni and self-care through single login app, ranks amongst the largest selfcare apps in the world;<\/p>\n b) JioTV: India\u2019s #1 live TV app; with wide offer of channels (over 600) spanning 16 languages, 11 genres, 630+ channels, 135+ HD channels;<\/p>\n c) JioCinema: Amongst the top video entertainment apps in the country; built on state-ofthe-art tech platform;<\/p>\n d) JioNews: India\u2019s leading news and magazines app with the best-in-class content bouquet covering 900+ magazines, 300+ newspaper editions; varied contents formats including Live TV, Short videos, News articles;<\/p>\n e) JioSaavn: #1 music app in the country; continues to be the fastest growing streamingplatform, with 45+ million tracks under license across 16 languages with differentiationthrough Artist Originals Program.<\/p>\n Emerging platforms to come<\/span><\/strong><\/p>\n Reliance Group keeps on focussing on the development and launch of digital platforms thatenable and accelerate digital society with, frictionless and seamless universal access and adoption in the fields of: healthcare, education, agriculture, commerce, government-to-Citizen services, gaming, manufacturing, etc.<\/p>\n These Platforms are also backed by investment in following emerging and next generation technologies, such as: blockchain, artificial intelligence & Machine Learning, virtual, augmented\/mixed realty, computer Vision, high performance and edge computing, and natural language processing and voice enabled services.<\/p>\n Plan to make RJIL become a net debt free business<\/span><\/strong><\/p>\n The Board of Directors of RJIL approved the following plan to achieve a net debt free status: Consequent to the above, RJIL will become virtually net debt free company by 31st Marchv2020, with exception of spectrum related liabilities.<\/p>\n Image over the headline.-<\/strong> Jio TV app. \u00a9 Reliance Industries<\/span><\/p>\n Note for the indian measure units: 1 crore= 100 lakhs \/ 1 lakh= 100.000<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Reliance Industries Limited is to set up the largest digital services platform company in India. it is going to invest RS 1,08,000 crore in the capital equity of this wholy owned subsidiary. Thsi subsidiary will alsoo acquire RIL’s equitey investment (Rs. 65.000 crore in RJIL (Reliance Jio Limited). The total capitalisation in digital platform services …<\/p>\n![\"\"](\"https:\/\/eastwind.es\/marketing\/wp-content\/uploads\/sites\/2\/2019\/11\/Reliance-CMD_Mukesh-Ambani_shareholders-meeting_2018.jpg\")
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\na)A scheme of arrangement between RJIL and certain classes of its creditors including debenture holders for transfer of identified liabilities of up to Rs. 1,08,000 crore to RIL;
\nb) Rights Issue of Optionally Convertible Preference Shares (\u2018OCPS\u2019) aggregating up to Rs. 1,08,000 crore for the purpose of payment of consideration for transfer of identified liabilities – the new subsidiary is to subscribe to this issue-.<\/p>\n