Reliance Industries has informed that Indiavidual Learning (Embibe), a subsidiary of the Company has acquired equity shares of eDreams Edusoft (Funtoot) for a cash consideration of Rs 71,64,35,143 representing 90.5% holding in the equity share capital of Funtoot. Embibe proposes to make a further acquisition of equity shares of up to Rs 10 crore, subject to Funtoot achieving agreed milestones. The further acquisition is expected to be completed by December 2021 and the shareholding of Embibe will thereafter increase to 100% of the equity share capital of Funtoot.
The above information is a part of company’s filings submitted to BSE.
