{"id":305458,"date":"2019-12-13T10:27:42","date_gmt":"2019-12-13T04:57:42","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=305458"},"modified":"2019-12-13T10:55:18","modified_gmt":"2019-12-13T05:25:18","slug":"ril-subsidiary-picks-up-majority-stake-in-nowfloats-for-rs-142-crore","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ril-subsidiary-picks-up-majority-stake-in-nowfloats-for-rs-142-crore\/","title":{"rendered":"RIL subsidiary picks up majority stake in NowFloats for Rs 142 crore"},"content":{"rendered":"<p>Reliance Industries Ltd (RIL) on Thursday said its subsidiary has picked up 85 per cent stake in NowFloats Technologies for a cash consideration of Rs 141.63 crore. <\/p>\n<p>The stake purchase is aimed at strengthening the group&#8217;s digital and new commerce initiatives. <\/p>\n<p>&#8220;Reliance Strategic Business Ventures Ltd (RSBVL), a wholly-owned subsidiary of RIL, has acquired equity shares of NowFloats Technologies for a cash consideration of Rs 141,63,78,822. The said investment represents 85 per cent holding in the equity share capital of NowFloats,&#8221; RIL said in a BSE filing. <\/p>\n<p>RSBVL proposes to make a further investment of up to Rs 75 crore, subject to achieving agreed milestones, and is expected to be completed by December 2020, it added. <\/p>\n<p>Post the additional investment, the shareholding of RSBVL in NowFloats will increase to 89.66 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries Ltd (RIL) on Thursday said its subsidiary has picked up 85 per cent stake in NowFloats Technologies for a cash consideration of Rs 141.63 crore. The stake purchase is aimed at strengthening the group&#8217;s digital and new commerce initiatives. &#8220;Reliance Strategic Business Ventures Ltd (RSBVL), a wholly-owned subsidiary of RIL, has acquired equity shares of NowFloats Technologies for a cash consideration of Rs 141,63,78,822. The said investment represents 85 per cent holding in the equity share capital of NowFloats,&#8221; RIL said in a BSE filing. RSBVL proposes to make a further investment of up to Rs 75 crore, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-305458","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=305458"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/305458\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=305458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=305458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=305458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}