Jio shifts control of fibre, tower units to infra trusts
KOLKATA: Reliance Jio Infocomm has transferred control of its fibre and tower arms to two infrastructure investment trusts (InvITs) – Digital Fibre Infrastructure Trust and Tower Infrastructure Trust — set up by a wholly-owned unit of Reliance Industries (RIL), with the aim of deleveraging its balance sheet.
Digital Fibre Infrastructure Trust and Tower Infrastructure Trust have acquired 51% stakes each in Jio’s fibre and tower units – Jio Digital Fibre Pvt Ltd (JDFPL) and Reliance Jio Infratel Pvt Ltd (RJIPL), respectively – for considerations of Rs 262.65 crore and Rs 109.65 crore respectively, RIL said in a regulatory filing late Monday night.