Reliance Industries’ wholly-owned subsidiary -- Reliance Strategic Business Ventures (RSBVL) has acquired equity shares of Asteria Aerospace for a cash consideration of around Rs 23.12 crore. The said investment represents 51.78% holding in the equity share capital of Asteria.
RSBVL proposes to make a further investment of up to Rs 125 crore, subject to Asteria achieving agreed milestones. The further investment is expected to be completed by December 2021. Post the further investment, the shareholding of RSBVL will increase to 87.3% of the equity share capital of Asteria.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
