Reliance Capital’s subsidiary -- Reliance Corporate Advisory Services (RCASL) has acquired 1,39,999 (about 49.99%) equity shares of Reliance Underwater Systems (RUSPL) by way of subscription. The cost of acquisition is Rs 0.14 crore. RUSPL has become subsidiary of the company consequent to same becoming subsidiary of RCASL. RUSPL proposes to undertake manufacturing of vessels.
Reliance Capital, a part of the Reliance Group, is one of India’s leading private sector financial services companies. It has interests in asset management and mutual funds; life, health and general insurance; commercial and home finance; stock broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.
