Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries, has completed the acquisition of Karkinos Healthcare under an approved resolution plan.
On December 27, 2024, RSBVL subscribed to 1 crore equity shares of Rs. 10 each, amounting to Rs. 10 crore, and 36.5 crore optionally fully convertible debentures (OFCBs) of Rs. 10 each, totaling Rs. 365 crore.
In accordance with the resolution plan, Karkinos canceled its outstanding 30,075 equity shares, making it a step-down wholly-owned subsidiary of Reliance Industries.
Karkinos, founded in July 2020, specializes in technology-driven solutions for the early detection, diagnosis, and management of cancer.
Key Financials of Karkinos:
- FY2023 Revenue: ₹21.91 crore
- FY2022 Revenue: ₹0.92 crore
- FY2021 Revenue: ₹0.004 crore
In the meantime, Reliance Industries shares closed at ₹1,221.50 on December 27, showing slight movement with an opening price of ₹1,218.30. The stock reached a high of ₹1,227.90 and a low of ₹1,217.00 during the trading session. Over the past 52 weeks, the stock has touched a high of ₹1,608.80 and a low of ₹1,201.50.
