Reliance Industries’ wholly owned subsidiary -- Reliance Strategic Business Ventures (RSBVL) has invested Rs 20 crore in equity shares of Neolync Solutions (Neolync). A further investment of up to Rs 40 crore, subject to Neolync achieving agreed milestones, is expected to be completed by March 2023.
The total investment will translate into 40% of equity share capital in Neolync on a fully paid up and diluted basis. The said investment is part of group's overall 5G initiatives and commitment to 'Government of India's 'Made in India' initiatives for fostering indigenous manufacturing especially in next gen 5G technologies.
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.
