Jio BLAST eSports Ceases to Be Reliance Industries Subsidiary, Becomes Joint Venture

Reliance Industries Limited has announced that Jio BLAST eSports Private Limited is no longer its subsidiary. Following a new equity allotment to BLAST Esports Limited, the entity has transitioned into a joint venture, reshaping Reliance’s involvement in India’s esports space.

Joint Venture Formation Between RISE and BLAST Esports

On April 2, 2025, RISE Worldwide Limited, a wholly owned subsidiary of Reliance Industries, signed an agreement with BLAST Esports Limited, a subsidiary of Denmark-based BLAST ApS, to establish a joint venture for esports operations in India. This strategic partnership was publicly announced through a media release and aimed to tap into India’s growing esports market.

To facilitate this, RISE incorporated Jio BLAST eSports Private Limited on April 18, 2025, as its wholly owned subsidiary. The intention was always to convert it into a joint venture entity as per the agreement’s terms.

Equity Allotment and Change in Ownership

On June 25, 2025, Jio BLAST eSports allotted 50,00,000 equity shares of ₹10 each to BLAST Esports Limited, amounting to a total value of ₹5 crore. This allotment brought RISE's stake in the company down to 50%, triggering a change in its classification from subsidiary to joint venture.

This strategic shift signifies the beginning of shared control and collaborative management between RISE and BLAST Esports. It is important to note that this allotment is not a related party transaction, and no regulatory or government approvals were necessary for its execution.

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Regulatory and Disclosure Considerations

As per regulatory obligations, Reliance Industries promptly disclosed this material event under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company received the official intimation from RISE at 6:07 p.m. IST on June 25, 2025, and notified stock exchanges, including BSE and NS,E accordingly.

Additionally, the information has also been shared with the Luxembourg Stock Exchange and Singapore Exchange, where the company’s securities are listed.

Reliance Industries Share Price Performance

On June 26, 2025, Reliance Industries Limited share price opened at ₹1,469.10 on NSE, above the previous close of ₹1,467.30. During the day, it surged to ₹1,473.80 and dipped to ₹1,465.10. The stock is trading at ₹1,473.50 as of 9:28 AM. The stock registered a marginal change of 0.42%.

Over the past week, it has moved up by 0.50%, over the past month, it has moved up by 3.93%, and over the past 3 months, it has moved up by 15.75%.

Conclusion

Jio BLAST eSports transitioning into a joint venture reflects Reliance Industries' focused strategy in the digital and entertainment sectors. By partnering with an international esports leader like BLAST ApS, Reliance aims to capitalise on the dynamic Indian gaming ecosystem while sharing operational responsibilities and risks.

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