RIL arm acquires 51.78% stake in Asteria Aerospace for Rs 23.12 crore
Reliance Industries on Friday said its wholly-owned subsidiary Reliance Strategic Business Ventures Ltd had acquired over 51% stake in Asteria Aerospace for Rs 23.12 crore.
“RSBVL has acquired equity shares of Asteria Aerospace for a cash consideration of Rs 23,12,49,584. The said investment represents 51.78% holding in the equity share capital of Asteria,” Reliance Industries Ltd said in a BSE filing. The investment will further enable the group’s initiatives in emerging technology, it added. RSBVL proposes to make a further investment of up to Rs 125 crore, subject to Asteria achieving agreed milestones, and is expected to be completed by December 2021, it said.
