01 , March , 2023
In a major development in the real-estate sector, billionaire Mukesh Ambani-led Reliance Industries Ltd. (RIL) has marked its presence in the commercial real estate business. "The company has incorporated a wholly owned subsidiary named Reliance SOU (RSOUL) to carry on, inter alia, the business of development of properties for commercial use," it said in a BSE filing.
It has invested Rs 1,00,000 in the equity shares of RSOUL. It already has another company developing industrial, residential and commercial township in Jhajjar, Haryana in the name of Model Economic Township, which is a subsidiary of Reliance Ventures, which in turn is a wholly-owned-subsidiary of Reliance Industries.