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As previously disclosed in an exchange filing on November 14, RIL held a 70.49% stake in Viacom18 on a fully diluted basis, which included 5,57,27,821 equity shares and 24,61,33,682 compulsorily convertible preference shares (CCPS). Viacom18 had been a material subsidiary of Network18 Media & Investments Ltd (“Network18”), a subsidiary of RIL.
On December 30, 2024, RIL converted the 24,61,33,682 CCPS into an equal number of equity shares, making Viacom18 a fully owned subsidiary of RIL. Following the conversion, RIL holds 83.88% of Viacom18’s total equity share capital and 70.49% on a fully diluted basis.
Earlier in March 2024, RIL had bought out Paramount Global’s entire 13.01% stake in Viacom18 for ₹4,286 crore. As a result, RIL holds 70.49% of Viacom18, Network18 holds 13.54%, and Bodhi Tree Systems holds 15.97% on a fully diluted basis.
Billionaire Mukesh Ambani-led RIL in November 2024 also completed the merger of its media business with the India business of global media house Walt Disney.
Shares of RIL closed 0.38% higher at ₹1,215.45 on the BSE today.
(Edited by : Ajay Vaishnav)
