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Reliance Industries acquires 10.9% stake in Saavn India

05 Feb 2020 Evaluate

Reliance Industries has acquired additional 65,956 equity shares, representing 10.9% of the equity share capital, of Saavn Media (Saavn India) from the existing shareholders for a total consideration of Rs 653.93 crore on February 3, 2020. After acquisition, the company will hold 94.4% of the equity share capital of Saavn India.

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.

Peers
Company Name CMP
Reliance Industries 1178.10
Indian Oil Corpn. 125.55
Bharat PetroleumCorp 286.35
HPCL 328.85
MRPL 174.25
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