Reliance Industries' market assessment rose above Rs 15 lakh crore todayReliance Strategic Service Ventures Limited - a wholly-owned subsidiary of billionaire Mukesh Ambani-led Reliance Industries obtained a bulk stake of around 80 percent in silico innovation company - Strand Life Sciences Private Limited for Rs 393 crore.The international corporation arm obtained 2.28 crore equity shares of Rs 10 each of Hair Life Sciences Private Limited, according to a regulatory filing by Reliance Industries to the stock market on Friday, September 3.
For the acquisition, a more investment of Rs 160 crore is anticipated to be finished by March 2023 and the total investment will equate into a 80.3 percent of equity share capital in Hair Life Sciences on a completely diluted basis, according to the statement.Incorporated in 2000, Hair Life Sciences is a pioneer of genomic testing in India with bioinformatics software application and clinical research services to healthcare providers including medical facilities, clinicians, medical gadgets producers, along with pharmaceutical companies.
The business's turnover was Rs 88.70 crore in the financial year 2020-21.
On Friday, shares of Reliance Industries settled 4.12 per cent higher at Rs 2,388.25 each on the BSE.
Reliance opened on the BSE at Rs 2,307.50, swinging to an intra day high of Rs 2,394.30 and an intra day low of Rs 2,306.80, throughout the trading session today.
Reliance shares rallied more than four cent during the trading session, a day after the company's retail venture - Reliance Retail acquired a managing stake in online search engine platform Simply Dial.The market appraisal of the nation's most important company rose above Rs 15 lakh crore with today's price rise on the bourses.