RRVL, a unit of Reliance Industries, bought 35 per cent stake held by Everstone Capital, a Singapore based, India-focused private equity firm in Ritika
RRVL s majority equity acquisition in Ritika Pvt Ltd included completely acquiring Everstone s 35 per cent stake in the company, a joint statement said.
RIL to continue acquisition spree in 2021
Mumbai |
Updated on
March 07, 2021
Reliance Industries Ltd (RIL), which has invested in more than 100 companies over the past nearly five years, will continue its buying spree in 2021, as the company is scouting for established firms across sectors.
The firm is on the prowl to acquire to stakes in technology firms such as Artificial Intelligence (AI), Blockchain, Cloud, Augmented Reality (AR), gaming and banking software among others. The company would look to invest in logistics, supply chain, retail, chemicals and energy among others.
The deals would be done through its subsidiaries such as Jio Platforms, JioMart, Reliance Retail Ventures Ltd (RRVL), Reliance Industrial Investments and Holdings Limited (RIIHL) and Reliance Strategic Business Ventures Ltd (RSBV) among others.
Not just Future Retail but shares of Reliance Industries were also trading 1.5 per cent higher during the afternoon trading session. Here's is all you need to know: