Reliance Industries Ltd.

Reliance Industries’ (RIL) wholly-owned subsidiary -- Reliance Industrial Investments and Holdings (RIIHL) has entered into an agreement for acquisition of equity shares of SankhyaSutra Labs (SSL) for a cash consideration not exceeding Rs 16.03 crore.

RIIHL will further invest an amount of up to Rs 200 crore and is likely to be completed by December 2021. The said investment will translate into approximately 83% of equity capital in SSL on a fully diluted basis. The aforesaid investment will further enable the group’s digital initiatives that include enterprise grade high end computing analytical tools and solutions.

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.