7 months ago
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Meta Platforms Inc's Facebook Overseas volition clasp 30% involvement successful the AI task floated by billionaire Mukesh Ambani's Reliance Industries, according to a regulatory filing.
Reliance Intelligence, a wholly-owned subsidiary of Reliance Industries Ltd, and Facebook volition jointly put an archetypal ₹855 crore successful the venture.
In the filing, the institution said Reliance Intelligence Ltd connected October 24, 2025 incorporated Reliance Enterprise Intelligence Ltd. "REIL, incorporated successful India arsenic a wholly-owned subsidiary of Reliance Intelligence, volition go the associated task institution arsenic per the amended and restated associated task statement with Facebook Overseas, Inc. (Facebook), a wholly-owned subsidiary of Meta Platforms, Inc," it said.
REIL volition develop, marketplace and administer endeavor AI services.
"In accordance with the JV Agreement, Reliance Intelligence volition clasp 70 per cent and Facebook volition clasp the equilibrium 30 per cent successful REIL," it said.
"Reliance Intelligence and Facebook person jointly committed an archetypal concern of Rs 855 crore."
No governmental oregon regulatory approvals were required for the incorporation of REIL.
