Companies

RIL arm buys 51.78% stake in Asteria Aerospace

PTI New Delhi | Updated on December 13, 2019

Reliance Industries on Friday said its wholly-owned subsidiary Reliance Strategic Business Ventures Ltd (RSBVL) has acquired over 51 per cent stake in Asteria Aerospace for ₹23.12 crore.

“RSBVL has acquired equity shares of Asteria Aerospace for a cash consideration of ₹23,12,49,584. The said investment represents 51.78 per cent holding in the equity share capital of Asteria,” Reliance Industries Ltd (RIL) said in a BSE filing. The investment will further enable the group’s initiatives in emerging technology, it added.

RSBVL proposes to make a further investment of up to ₹125 crore, and is expected to be completed by December 2021, it said.

Published on December 13, 2019

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