India, May 6 -- Reliance Industries is reportedly exploring a major play into the satellite communications segment through a multi-billion-dollar investment in low earth orbit (LEO) satellites.

According to an ET report, the Mukesh Ambani-led conglomerate is evaluating both organic and inorganic expansion opportunities, including possible acquisitions of satellite companies with existing orbital slots and infrastructure.

"The company wants to be one of the biggest players in the satellite space, particularly in the LEO segment, which has immense potential," the report quoted a source as saying.

It said six teams have been formed internally to work on different aspects of the proposed satellite venture, including satellites, launches, p...