RIL buys Karkinos Health for Rs 375 crore 

SECTIONSRIL buys Karkinos Health for Rs 375 croreET BureauSynopsisReliance Industries has acquired technology-led oncology platform Karkinos Healthcare for ₹375 crore. The acquisition was made through its subsidiary, Reliance Strategic Business Ventures, in an all-cash deal. Karkinos has become a step down wholly-owned subsidiary of Reliance Industries following the subscription and allotment of equity shares, and cancellation of existing shares held by erstwhile shareholders.ReutersMumbai:Reliance Industries(RIL) on Saturday announced the acquisition of technology-led oncology platform Karkinos Healthcare for₹375 crore, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), in an all-cash deal.”RSBVL has on December 27, 2024, subscribed to and has been allotted 10 millionequity sharesof ₹10 each, for cash, aggregating ₹10 crore and 365 million optionally fully convertible debentures of ₹10 each, for cash, aggregating ₹365 crore of Karkinos,” RIL said in a filing to stock exchanges on Saturday.RIL said that Karkinos has cancelled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of Karkinos in accordance with the approved resolution plan.”Post-allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares as above, Karkinos has become a step down wholly-owned subsidiary of the company,” the statement added.(You can now subscribe to our Economic Times WhatsApp channel)(Catch all the Business News, Breaking News, Budget 2024  Events and Latest News Updates on The Economic Times.)Subscribe to The Economic Times Prime and read the ET ePaper online….moreless(You can now subscribe to our Economic Times WhatsApp channel)(Catch all the Business News, Breaking News, Budget 2024  Events and Latest News Updates on The Economic Times.)Subscribe to The Economic Times Prime and read the ET ePaper online….morelessPrime ExclusivesInvestment IdeasStock Report PlusePaperWealth EditionView all Stories’;
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