Corporate Announcement
Security Code : 500325    Company : RELIANCE    
 
Announcement under Regulation 30 (LODR)-AcquisitionDownload PDFDownload XBRL
  Exchange Received Time  03/08/2019 18:01:45         Exchange Disseminated Time   8/3/2019 6:01:51 PM              Time Taken   00:00:06
Reliance Industrial Investments and Holdings Limited ('RIIHL'), a wholly-owned subsidiary of Reliance Industries Limited ( 'the Company') has entered into an agreement for acquisition of equity shares of Shopsense Retail Technologies Pvt. Ltd. ('Shopsense' or 'Fynd') for a cash consideration not exceeding INR 295.25 crore. RIIHL has an option to further invest an amount of up to INR 100 crore which is likely to be completed by December 2021. The total investment will translate into ~87.6% of equity share capital in Fynd on a fully diluted and converted basis.

Fynd is a software technology company incorporated on 27 September 2012. Fynd provides technology platform and solutions to merchants to manage their inventory and sales across multiple demand channels for consumers, including e-commerce platforms.
 

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