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Reliance Jio acquires another 12% of Den Networks

Three Jio companies have informed the stock exchanges on the move.

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BENGALURU: Under disclosures of SEBI Regulations for Substantial Acquisitions of Shares and Takeovers (SAST), three Reliance Jio companies have informed the stock exchanges that they have increased their holdings in Indian multi system operator (MSO) Den Networks from 66.57 percent to 78.62 percent or increased their holdings by 12.05 percent which translates to roughly 5.75 crore shares. The three Jio companies are Jio Futuristic Digital Holdings Pvt Ltd, Jio Digital Distribution Holdings Pvt Ltd and Jio Television Distribution Holdings Pvt Ltd.

As mentioned by us in October 2018 (http://www.indiantelevision.com/iworld/telecom/ril-close-to-buying-major...) , Reliance Industries Limited (RIL) had announced the following strategic investments through a preferential issue under SEBI regulations and a secondary purchase to acquire a 66 per cent stake in Den Networks Ltd. Reliance Jio Infocomm Limited (Jio) is a mobile network operator owned by Reliance Industries Limited. Besides Den Networks, RIL had also announced strategic investments in the Rajan Raheja-controlled  Hathway Cable and Datacom Ltd at that time RIL said that these strategic investments are in furtherance of Reliance’s mission of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price and transforming India’s digital landscape.

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