Mumbai (Maharashtra) [India], October 25 (ANI): Reliance Industries Limited (RIL) has announced that its subsidiary, Reliance Intelligence Limited, will form a joint venture company with Facebook Overseas, Inc., a wholly owned arm of Meta Platforms, Inc. The new entity, named Reliance Enterprise Intelligence Limited (REIL), will focus on 'developing, marketing and distributing enterprise AI services', according to a company statement released on Saturday.

As per the amended and restated joint venture agreement, Reliance Intelligence will hold 70 per cent, while Facebook will own the remaining 30 per cent stake in REIL. The two partners have jointly committed an initial investment of approximately Rs 855 crore, marking a significant collaboration between two of the world's largest conglomerates.

REIL was officially incorporated in India on October 24, 2025, as a wholly owned subsidiary of Reliance Intelligence. The company will serve as the joint venture vehicle for the partnership with Facebook. Reliance Intelligence has subscribed to 20,00,000 equity shares, amounting to Rs 2 crore towards the initial capital.

'Reliance Intelligence will invest an amount of Rs 2 crore towards initial subscription of 20,00,000 equity shares of Rs 10 each,' the release noted.

RIL clarified that the transaction does not fall under the category of related party transactions, and none of its promoters or group companies have any direct or indirect interest in the deal. The company also stated that no governmental or regulatory approvals were required for the incorporation of REIL.

'The transaction does not fall within related party transaction and none of the Company's promoter/ promoter group/ group companies have any interest in the above transaction,' the release said.

The intimation regarding the incorporation was received from Reliance Intelligence on October 24, 2025, at 1:19 p.m. (IST). The company said this step follows its earlier disclosures made on August 29, 2025, and September 10, 2025.

Through this partnership, both companies aim to strengthen their enterprise technology capabilities and explore opportunities in AI-based solutions for businesses.

The development highlights the increasing importance of artificial intelligence in enterprise solutions and signals a strategic move by both firms to position themselves in this emerging field. (ANI)