Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), has entered into an agreement with BIF IV Jarvis India Pte Limited, an affiliate of Brookfield Asset Management Inc. (Brookfield) for investment by Brookfield (along with co-investors) of INR 252,150 million (US$ 3.65 million) in the units proposed to be issued by the Tower Infrastructure Trust (Trust). Brookfield's investment is subject to conditions precedent, including receipt of requisite government and regulatory approvals.

RIIHL is the Sponsor of the Trust and the Trust currently holds 51% of the issued and paid-up equity share capital of Reliance Jio lnfratel Private Limited (RJIPL) to which the tower assets undertaking of Reliance Jio Infocomm Limited (RJIL) was transferred as a going concern pursuant to a scheme of arrangement sanctioned by NCLT, Ahmedabad bench.

Proceeds from the investment by Brookfield will be used to repay certain existing financial liabilities of RJIPL and acquiring the balance 49% of the equity share capital of RJIPL, currently held by RIL.