Reliance Industries’ subsidiary RSBVL and Sanmina Corporation on Thursday announced the creation of an electronic manufacturing joint venture in India.
Reliance Strategic Business Ventures Limited (RSBVL) will hold 50.1 percent equity stake in the joint venture entity while Sanmina will have a 49.9 percent shareholding.
RSBVL will achieve this ownership primarily through an investment of up to Rs 1,670 crore in new shares in Sanmina’s existing Indian entity, according to a statement.