Reliance Industries Increases Stake to 83.88% in Viacom18

Reliance Industries announced that it has converted 24.61 crore compulsorily convertible preference shares (CCPS) in Viacom18 into equity, increasing its ownership to 83.88%. Viacom18 becomes a subsidiary of Reliance effective December 30, 2024.

Details of the Deal

Reliance Industries Limited (RIL) has announced the conversion of its approximately 24.61 crore compulsorily convertible preference shares (CCPS) in Viacom18 Media Private Limited into an equal number of equity shares.

This move was executed following the approval of Network18 Media & Investments Limited shareholders, the company said in a statement released on the stock exchanges.

After the conversion, Reliance’s equity holding in Viacom18 now stands at 83.88%, while it continues to hold a 70.49% stake on a fully diluted basis.

Consequently, Viacom18 is now a subsidiary of Reliance Industries as of December 30, 2024, and it ceases to be a subsidiary of Network18. The intimation of the allotment of shares was received from Viacom18 on the evening of December 30, 2024.

About Viacom18

Viacom18 Media Private Limited is a leading media company in India, part of the joint venture formed between Reliance Industries Limited (RIL) and The Walt Disney Company. The company offers a vast portfolio of content across television, digital platforms, and sports. It operates over 100 TV channels, including popular brands like ‘Colors’ and ‘Star’ and runs JioCinema and Hotstar, two of India’s leading digital streaming platforms.

Share Price Performance

Reliance Industries’ share price traded 0.83% higher at ₹1,225.50 at 12:45 PM on the NSE. The stock opened at ₹1,214.85 flat against its previous close of ₹1,215.45.

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