Reliance Retail-Yashraj in JV for expansions

Recently, India’s leading Industrialist Mukesh Ambani, CMD, Reliance Industries has forayed in the reel world by tieing up with Yashraj Films.

Mukesh Ambani’s Reliance Retail and Yashraj Films may float a 74:26 JV to develop multiplexes, run entertainment channels and produce soap operas for television. The new company formed out of this Joint Venture would work out upcoming malls of Reliance Retail nationwide to bring more multiplexes.

“I love watching Bollywood movies and Yash Chopra is one of my favourite filmmakers. I have always believed that he has a Midas touch”, said Mukesh Ambani, Chairman, Reliance Industries. The plans are to invest around Rs 200 crores in the new venture.