Reliance Industries Ltd. - Announcement under Regulation 30 (LODR)-Acquisition

| Updated on August 03, 2019 Published on August 03, 2019

Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited ( the Company) has entered into an agreement for acquisition of equity shares of Shopsense Retail Technologies Pvt. Ltd. (Shopsense or Fynd) for a cash consideration not exceeding INR 295.25 crore. RIIHL has an option to further invest an amount of up to INR 100 crore which is likely to be completed by December 2021. The total investment will translate into ~87.6% of equity share capital in Fynd on a fully diluted and converted basis.

Fynd is a software technology company incorporated on 27 September 2012. Fynd provides technology platform and solutions to merchants to manage their inventory and sales across multiple demand channels for consumers, including e-commerce platforms.

Pdf Link: Reliance Industries Ltd. - Announcement under Regulation 30 (LODR)-Acquisition

Source : BSE - www.bseindia.com

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Published on August 03, 2019
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