As per company sources, Digital Fibre Infrastructure Trust and Tower Infrastructure Trust have acquired 51% stakes each in Jio's fibre and tower units - Jio Digital Fibre Pvt Ltd (JDFPL) and Reliance Jio Infratel Pvt Ltd (RJIPL), respectively - for considerations of Rs 262.65 crore and Rs 109.65 crore respectively.
RIL said in its filing: “The above transactions do not fall within related party transactions and none of RIL’s promoter/ promoter group/group companies have any interest in the transaction,” RIL said in the filing. It added that the scheme of arrangement “will result in significant deleveraging of the consolidated balance sheet of the Company as at 31st March 2019.”
JDFPL and RJIPL have also allotted Rs 500 crore and Rs 200 crore worth of shares to the shareholders of Jio, respectively, RIL said. Jio is also a wholly-owned unit of RIL.