Dec 28, 04:09 PM

Reliance Industries, Led by Mukesh Ambani, Completes ₹375 Crore Acquisition of Karkinos Healthcare on December 28, 2024

Reliance Industries Limited (RIL), led by Mukesh Ambani, has completed its acquisition of Karkinos Healthcare for ₹375 crore. This acquisition marks a significant step for RIL, which had previously acquired a minority stake in Karkinos in 2021. The deal, executed through Reliance Strategic Business Ventures Limited (RSBVL), includes a subscription to ₹375 crore worth of equity and optionally fully convertible debentures, making Karkinos a step-down wholly owned subsidiary of RIL. The announcement was made on December 28, 2024, and reflects Reliance's ongoing strategy of expansion through acquisitions, having invested approximately $13 billion in similar ventures over the past five years. As of December 30, 2024, Reliance's share price was reported at ₹1221.65, showing a slight uptick amidst market fluctuations.