The new AI Subsidiary of Mukesh Ambani -led Reliance Industries has incorporated a new entity, Reliance Enterprise Intelligence (REIL) — as part of its joint venture with Facebook Overseas Inc , a wholly owned subsidiary of Meta Platforms Inc.

Both partners have jointly committed an initial investment of around Rs 855 crore to develop, market and distribute enterprise AI services under the new entity.

Reliance Intelligence to hold 70% stake

Reliance Enterprise Intelligence has been incorporated in India as a wholly owned subsidiary of Reliance Intelligence. Reliance Intelligence will initially invest Rs 2 crore to subscribe to 20 lakh equity shares of Rs 10 each.

As per the amended and restated joint venture agreement, Reliance Intelligence will hold 70% stake, while Facebook wil

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