Reliance Jio transfers fibre, tower units to investment trusts

Reliance Jio Infocomm (RJio), a wholly-owned subsidiary of Reliance Industries (RIL), has transferred its optical fibre cable (OFC) infrastructure and mobile towers to two infrastructure investment trusts.

The trusts were set up by Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of RIL, as sponsor.

“This (transfer) will result in significant deleveraging of the consolidated balance sheet of the company as on March 31,” RIL said in a regulatory filing.

RJio had transferred its OFC infrastructure to Jio Digital Fibre Pvt Ltd (JDFPL), and the tower units to Reliance Jio Infratel Pvt Ltd (RJIPL) as of March 31.