Reliance Industries Ltd.

Reliance Industries has informed that the Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of the Company has entered into agreement for acquisition of equity shares of Surajya Services Private Limited (Easygov) for a cash consideration not exceeding Rs 18,00,00,000. RIIHL will further invest an amount not exceeding Rs 50,00,00,000. The said investment upon completion will translate into 76% equity stake in Easygov on a fully diluted basis. The total investment is likely to be completed by March 2021. Easygov is a software service and data solutions company incorporated on 19th May 2015. Easygov is focused on citizen centric software solutions and services that help in improving convenience to people in accessing and digitally applying for Government to Citizen (G2C) schemes and services. Easygov is an early stage company with turnover of Rs 47.60 lakh, Rs 16.91 lakh and Rs 0.63 lakh and Net Profit (Loss) of Rs (83.09) lakh, Rs (29.49) lakh and Rs (12.88) lakh in FY 2018, FY 2017 and FY 2016 respectively.

The above information is a part of company’s filings submitted to BSE.