RIL incorporates subsidiary company in Estonia (Northern Europe)

MUMBAI | RAJKOT – In a regulatory filing submitted to the exchanges in India on Friday, Reliance Industries Ltd said of having incorporated company in Estonia (Northern Europe) to engage in software development and consultancy biz.

Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly owned subsidiary of the Company, has incorporated a company viz., “JioEstonia OÜ” in Estonia, on November 22, 2018.

Entire paid up share capital of Jio Estonia OÜ is held by RIIHL, the filing read.

Jio Estonia OÜ proposes to engage in the activity of software development and providing consultancy for existing and future technology initiatives pursued by the Company and its subsidiaries.

The filing from the company was submitted to the Exchanges in India, after the trading session for the day had ended on Friday.

It will be indeed interesting to see, how investors & traders recirpocate to the development, while bourses in India re-open for business on Monday, after a weekend trading holiday.