RIL raises stake in HFCL to 5% via QIP
Mumbai: Reliance Industries NSE -0.61 % (RIL) has increased its stake in HFCL NSE -3.41 %, the country’s largest integrated telecom network provider, to 5% by investing ₹138 crore in the latter’s qualified institutional placement (QIP) that concluded on Thursday, people aware of the development told ET.
The Mukesh Ambani-led conglomerate, through its subsidiary Reliance Strategic Business Ventures, held a 3.76% stake in the company as of September 30.
