iWorld
Reliance Industries sets up subsidiary for digital initiatives
Mumbai, 25 October 2019: Reliance Industries Limited (“RIL”), through its digital platform and connectivity initiatives including Reliance Jio Infocomm Limited (“RJIL”), has transformed the digital eco-system in the country, catapulting India from 155th rank in broadband penetration to the 1st rank in mobile data consumption within a span of less than three years.
Reliance Jio has built world class digital infrastructure and ecosystem, comprising of:
i) Best in class end-to-end all IP network ii) Tower and Fiber infrastructure iii) Content Delivery Network iv) Digital Applications and Platforms
v) Cloud Infrastructure vi) Technology capabilities
Digital Connectivity:
RJIL has emerged as the platform of choice with industry leading operating metrics, that rank amongst the highest globally:
• Second largest single-country operator globally, with 355 million subscribers
• Strong customer engagement metrics
• Wireless network carries more than 400 crore GBs of data per month, and nearly 1,000 crore of voice minutes per day
• Per capita mobile data usage of 11.7 GB/user/month
• Trending towards half a billion customers, with net additions of 8-10 million per month
This strong operating performance and customer engagement is backed by an end-to-end all IP network offering converged wireless and wireline solutions.
Digital Connectivity Platform and Passive infrastructure separation:
With completion of majority of RJIL’s capital expenditure, for optimizing operational efficiencies and better monetization of the Core Digital Connectivity Platform, tower and fiber passive infrastructure assets of approximately Rs. 1,25,000 crore were demerged from RJIL in March 2019 to Infrastructure Investment Trusts (InvITs).
Post this demerger, RJIL has become asset light having a balance sheet size of Rs. 2,37,000 crore.
Digital Platforms:
The Group has been developing and fostering a vibrant digital ecosystem through various digital applications, tools and platforms (Digital Platforms) spanning self-care, information, entertainment, chat, utility tools etc.
Most of these Platforms are best in class with high customer engagement metrics and differentiated features in their respective categories:
• MyJio: An omni and self-care through single login app, ranks amongst the largest self- care apps in the world;
• JioTV: India’s #1 live TV app; with wide bouquet of channels spanning 16 languages, 11 genres, 630+ channels, 135+ HD channels;
• JioCinema: Amongst the top video entertainment apps in the country; built on state-of- the-art tech platform;
• JioNews: India’s leading news and magazines app with the best-in-class content bouquet covering 900+ magazines, 300+ newspaper editions; varied contents formats including Live TV, Short videos, News articles;
• JioSaavn: #1 music app in the country; continues to be the fastest growing streaming platform, with 45+ million tracks under license across 16 languages with differentiation through Artist Originals Program.
Emerging Platforms:
The Group continues to focus on cutting edge, technology enabled Digital Platforms that enable and accelerate Digital society with, frictionless and seamless universal access and adoption:
i) Healthcare ii) Education iii) Agriculture iv) Commerce
v) Government-to-Citizen services vi) Gaming vii) Manufacturing
and many others.
These Platforms are also backed by investment in following emerging and next generation technologies:
• Blockchain
• Artificial Intelligence & Machine Learning
• Virtual, Augmented/Mixed Realty
• Computer Vision
• High Performance and Edge Computing
• Natural Language Processing and Voice enabled services
Digital Platforms Holding Company:
A world class New-age Digital Technology Platform entity is proposed for:
• Holding all Digital Platforms including RJIL, the Digital Connectivity Platform
• Further development initiatives of cutting-edge technologies
• Fostering inclusive Digital Society through collaborations & partnerships
• Capital and organization structure that is benchmarked to global digital technology players
• Compelling Investment Thesis with unencumbered capital structure, and
• Enabling early monetization opportunities
The Board of Directors of RIL today approved the formation of a wholly-owned subsidiary (“WOS”) for Digital Platform initiatives and investment of Rs. 1,08,000 crore in the WOS through OCPS.
The WOS will also acquire RIL’s equity investment of Rs. 65,000 crore in RJIL.
Debt reduction in RJIL
The Board of Directors of RJIL approved:
• A scheme of arrangement between RJIL and certain classes of its creditors including debenture holders for transfer of identified liabilities of up to Rs. 1,08,000 crore to RIL;
• Rights Issue of Optionally Convertible Preference Shares (‘OCPS’) aggregating up to Rs. 1,08,000 crore for the purpose of payment of consideration for transfer of identified liabilities – WOS to subscribe to this issue.
Consequent to the above, RJIL will become virtually net debt free company by 31st March 2020, with exception of spectrum related liabilities.
Like global technology peers, the Digital Platform Company with negligible leverage makes a compelling investment proposition for both strategic and financial investors, many of whom have evinced strong interest in partnering with us. It will have significant financial strength to address the Digital Services opportunity in India.
The proposed consolidated structure will be compliant with all statutory requirements.
Commenting on the formation of the Platform Company, Shri Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “This new Company will be a truly transformational and disruptive digital services platform. It will bring together India’s No.1 connectivity platform, leading digital app ecosystem and world’s best tech capabilities globally, to create a truly Digital Society for each Indian. Jio has been heralding the digital services revolution in India and will continue to do so in the years to come.
Given the reach and scale of our digital ecosystem, we have received strong interest from potential strategic partners. We will induct the right partners in our Platform Company, creating and unlocking meaningful value for RIL shareholders.”
Summary of Impact
• Ensures monetization opportunities accrue to shareholders efficiently;
• There is no impact in the value pre and post reorganization for any shareholder;
• There is no impact on the consolidated debt of RIL;
• Consolidation of liabilities in RIL creates an efficient structure to manage debt and cash;
• It does not impact RIL’s standalone credit profile given its robust cash flows and conservative leverage.
About Reliance Industries Limited:
• Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated turnover of INR 622,809 crore ($90.1 billion), cash profit of INR 64,478 crore ($ 9.3 billion), and net profit of INR 39,588 crore ($5.7 billion) for the year ended March 31, 2019.
• RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
• RIL is the top most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ – currently ranking 106th in terms of both revenues and profits. The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. It ranks 10th among LinkedIn’s ‘The Best Companies to Work For In India’ (2019).
iWorld
Uber spotlights Rs 25 bike rides with music led IPL campaign
Uber uses 15 second music films with Divine and Roll Rida to push Rs 25 rides
MUMBAI: In a season where ads usually swing for sixes with celebrity spectacle, Uber has chosen to play a clever single sharp, fast, and straight to the point. Uber has rolled out a distinctly stripped-down IPL campaign, putting its product Uber Bike rides starting at Rs 25 for up to 3 km front and centre, rather than leaning on big-budget storytelling. The campaign features hip-hop artist Divine in Mumbai and Roll Rida in southern markets, using music as the primary vehicle for recall.
IPL advertising has long been dominated by high-production narratives packed with cricketers and film stars. Uber’s approach flips that playbook. Instead of elaborate storytelling, the brand opts for 15-second music-led films quick, rhythmic bursts designed to mirror the pace of urban mobility itself.
The message is deliberately simple, affordable, fast rides that cut through city traffic. No layered plots, no extended build-up just a functional promise delivered with cultural flair.
In the Mumbai-led film, Divine zips through traffic on an Uber Bike, turning the Rs 25 price point into a hook with his signature wordplay around “pachisi”. The campaign cleverly reframes affordability as a moment of delight, the kind that leaves commuters with a “32-teeth smile” after beating traffic at minimal cost.
Meanwhile, Roll Rida’s version leans into southern sensibilities, blending Telugu and Tamil influences with high-energy visuals. Set to the beat of tape drums, the film celebrates how low-cost rides can unlock a more connected and vibrant city experience. Together, the films reflect a conscious push towards regional authenticity, rather than a one-size-fits-all national narrative.
The campaign also signals Uber’s sharper focus on India’s growing bike taxi segment. While the company offers multi-modal services spanning cars, autos, metro integrations and intercity travel, this push zeroes in on two-wheelers as a key growth lever in dense urban markets.
By anchoring the campaign around a Rs 25 entry price for short distances, Uber is targeting everyday commuters, particularly younger users navigating congested cities where speed and cost matter more than comfort.
With IPL advertising clutter at its peak, even the most straightforward message risks getting lost. Uber’s answer is to embed the proposition within culture using music, regional nuance and repeat-friendly short formats to drive recall. The creative team has also layered subtle visual cues including multiple references to “25” within frames encouraging repeat viewing and reinforcing the core message without over-explaining it.
The campaign reflects a broader shift in advertising priorities. As attention spans shrink and media environments get noisier, brands are increasingly favouring clarity over complexity and speed over scale.
Uber’s IPL play may not shout the loudest, but it lands where it matters in the everyday commute. Because sometimes, in a marketplace full of grand narratives, a Rs 25 ride is story enough.
