Reliance, Sanmina complete deal to set up electronics manufacturing joint venture

Updated: Oct 4 2022 11:38AM

New Delhi, Oct 4 (PTI) Reliance Industries' subsidiary RSBVL and US-based Sanmina Corporation have completed the deal to set up an electronics manufacturing joint venture at a total enterprise valuation of about Rs 3,300 crore.

Reliance Strategic Business Ventures Limited (RSBVL) will hold 50.1 per cent equity stake in the joint venture while Sanmina will have 49.9 per cent 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. With the investment, the entity will become a joint venture and will be capitalised with over USD 200 million of cash to fund growth.