MoneyWorks4Me

RIL’s arm invests $16 million in US-based tech start-up

02 Jun 2016 Evaluate

Reliance Industries’ (RIL) wholly-owned subsidiary Reliance Industrial Investments and Holdings (RIIHL) has invested $16 million in US-based tech start-up NetraDyne. Half of the payment was done by May 30 and the next tranche will be done by May 30 next year. On conversion of the investment or preferred shares, RIIHL will get 40% of the equity or 1.50 crore shares of NetraDyne.

Reliance Industries has businesses across India, engaged in energy, petrochemicals, textiles, natural resources, retail and telecommunications.

Peers
Company Name CMP
Reliance Industries 1206.65
Indian Oil Corpn. 130.50
Bharat PetroleumCorp 297.00
HPCL 343.05
MRPL 182.85
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