Reliance Sells Stake In M Entertainments For Rs. 12.35 Lakh - Details

Reliance Industries Limited (RIL) has announced the sale of its 100% equity stake in M Entertainments Private Limited through its step-down subsidiary,

The Indian Film Combine Private Limited (IFCPL). The deal, finalized on January 22, 2025, was valued at Rs. 12.35 lakh. With this, M Entertainments has ceased to be a subsidiary of Reliance Industries.

‘The Indian Film Combine Private Limited (IFCPL), a step down subsidiary of the Company, has informed the Company that it has, on January 22, 2025, sold its 100% equity stake in M Entertainments Private Limited (“M Entertainments”) for an aggregate consideration of Rs. 12.35 lakh. Consequently, M Entertainments has ceased to be a subsidiary of the Company,’ the company mentioned in the exchange filing.

Financial Details of the Transaction
M Entertainments, with a net worth of Rs. 12.55 lakh, contributed a negligible 0.00002% to Reliance's consolidated net worth as of March 31, 2024. The entity reported nil turnover during the financial year.

According to the company, this transaction does not classify as a related party transaction, and no government or regulatory approvals were required.
The stake was sold to two Indian resident individuals who are unrelated to Reliance’s promoter or promoter group. "We received intimation from IFCPL regarding the transaction on January 22, 2025," stated in the exchange filing by the company.

Reliance Industries Share Price Today
On January 23, Reliance Industries' share price closed at Rs 1263.85, down by Rs 13.45 (-1.05%), with a daily high of Rs 1277.25 and a low of Rs 1261.55, opening at Rs 1274.75. The company's market capitalization stands at Rs 17,10,288.95 crore. Over the last five years, the stock has surged by 523.05%, while in the past one year, it has declined by 4.83%. In the last three months, the stock has fallen by 5.60%, and in the last week, it has decreased by 0.38%.