On December 30, 2024, Reliance Industries, led by billionaire Mukesh Ambani, completed the conversion of 24,61,33,682 CCPS into equity shares, as approved by the shareholders of Network18. As a result, Viacom18 is now a direct subsidiary of RIL, effective from December 30, 2024, and has ceased to be a subsidiary of Network18.

The change comes after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equal number of equity shares.

Viacom18 is now a direct subsidiary of Reliance Industries following the conversion of 246.1 million CCPS into equity shares. The move aligns Viacom18 with Reliance's media expansion strategy

Viacom18 Media now a direct subsidiary of Reliance Industries after conversion of 24.61 crore CCPS into equity shares.

Viacom18 has become a direct subsidiary effective December 30, 2024, and ceases to be a subsidiary of Network18, RIL said after allotment of equity shares from Viacom18

Previously, Viacom18 was a subsidiary of Network18 Media & Investments Limited. However, with shareholder approval under Regulation 24

As previously disclosed in an exchange filing on November 14, RIL held a 70.49% stake in Viacom18 on a fully diluted basis, which included 5,57,27,821 equity shares and 24,61,33,682 compulsorily convertible preference shares (CCPS).

Viacom18 Media, a media and entertainment company, has become a direct subsidiary of Reliance Industries following the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.

Media conglomerate Viacom18 Media has become a subsidiary of Reliance Industries effective December 30, 2024, after the conversion of over 24.61 crore compulsorily convertible preference shares (CCPS) into an equivalent number of equity shares.