The newly set-up subsidiaries will also establish or promote ventures in the sectors of entertainment, e-commerce, telecom, internet or manufacturing (telecom equipment), among others
Reliance Industries (RIL) has created seven subsidiaries to manage its growing telecom and content business, a month after completing deals with Den and Hathway Cable Networks, a senior official told Mint.
The subsidiaries are called Jio Content Distribution Holdings, Jio Internet Distribution Holdings, Jio Television Distribution Holdings, Jio Cable and Broadband Holdings, Jio Futuristic Digital Holdings, Jio Digital Distribution Holdings and Jio Digital Cableco, an official told the paper.
"These subsidiaries would undertake the business of broadcasting, broadband internet, wireless, data and hosting services to business and residential retail customers, cable services distribution, voice over internet protocol and video on demand, among others," the official said.
The newly set-up subsidiaries will also establish or promote ventures in the sectors of entertainment, e-commerce, telecom, internet or manufacturing (telecom equipment), among others.
Analysts believe the company prefers subsidiaries for its businesses as they are easier to manage and distribute risks, and it more convenient to raise funds for them through RIL's backing.
Reliance Industries also has the option of amalgamating these subsidiaries later, should it want to, a Mumbai-based analyst told the paper.
In October, RIL bought 66 percent stake in Den Networks and 51.3 percent stake in Hathway Cable and Datacom. These deals had given it access to 1,100 cities and 50 million homes to provide broadband services.RIL owns 84 Indian and 42 foreign subsidiaries. It liquidated or amalgamated 26 of its subsidiaries in 2017-18, according to the company's annual report.