Reliance Industries’ (RIL) wholly-owned subsidiary — Reliance Industrial Investments and Holdings (RIIHL) has entered into an agreement for acquisition of equity shares of C-Square Info Solutions for a cash consideration not exceeding Rs 22.04 crore.
RIIHL will further invest an amount of up to Rs 60 crore and is likely to be completed by March 2021. The total investment will translate into around 82% of equity capital in C-Square on a fully diluted basis.
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.