By: Bloomberg | Published: October 28, 2019 2:18:19 PM The board of Ambani’s Reliance Industries Ltd approved a proposal to plow 1.08 trillion rupees ($15 billion) into the fully owned subsidiary, which will in turn invest that amount in Reliance Jio Infocomm Ltd., the conglomerate’s telecommunications venture. A series of capital transfers would make Jio, which already has capital of 650 billion rupees, almost debt free by March 2020, the parent said Oct. 25.
Billionaire Mukesh Ambani moved a s…