Reliance Industries Ltd.

Reliance Industries’ (RIL) subsidiary -- Reliance Jio Digital Services (RJDSL) has entered into a definitive business transfer agreement with Haptik Infotech. The transaction size, including investment for growth and expansion, is estimated at about Rs 700 crore, with Rs 230 crore as the consideration for the initial business transfer.

The Haptik team will continue to drive growth of the business, including the enterprise platform as well as digital consumer assistants. On a fully diluted basis Reliance will hold about 87% of the business with the rest being held by Haptik founders and employees through stock option grants.

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.