Mukesh Ambani led Reliance Industries has entered the esports business through a new partnership between its wholly owned subsidiary, Rise Worldwide, and Denmark-based BLAST Esports. The two companies announced the formation of a joint venture (JV) on Wednesday to conduct large-scale esports events in India.
Jio BLAST eSports is now officially a joint venture
As part of the agreement announced in April this year, RISE incorporated a new entity called Jio BLAST eSports on April 18, 2025. Initially, it was a wholly-owned subsidiary of RISE.
BLAST Esports invested Rs 5 crore in the joint venture on June 26 by subscribing to 50 lakh equity shares of Rs 10 each in Jio BLAST. Following this allotment, RISE’s shareholding in Jio BLAST has come down to 50 per cent, making it an equal partnership between the two companies.
JioGames to become esports event hub
The new JV will combine BLAST’s expertise in global tournament production with Reliance’s deep technological capabilities and market reach in India. According to a report by The Economic Times, these events will be hosted on the JioGames platform, aiming to deliver competitive and high-quality gaming experiences to the Indian audience.
The JV plans to offer a wide range of services across the entire esports ecosystem. These include support for publishers and sponsors, end-to-end tournament management, targeted marketing, and production and broadcasting. The goal is to build a strong and sustainable esports industry in India.
Reliance rules out conflict of interest in JV formation
The company clarified that the share allotment to BLAST Esports is not a related party transaction, and no government or regulatory approvals were required. BLAST Esports Limited is also not part of Reliance’s promoter group or related companies.