Reliance Industries’ wholly owned subsidiary -- Reliance Strategic Business Ventures (RSBVL) has acquired 2,28,42,654 equity shares of Rs 10 each of Strand Life Sciences for a cash consideration of Rs 393 crore only. A further investment of up to Rs 160 crore is expected to be completed by March, 2023. The total investment will translate into 80.3% of equity share capital in Strand on a fully diluted basis. The said investment is part of group's digital health initiatives, to foster affordable access to world class technology and innovation led healthcare ecosystem in 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.
