|
| Exchange Received Time 22/02/2019 23:19:52 Exchange Disseminated Time 22/02/2019 23:19:58 Time Taken 00:00:06 | Reliance Industrial Investments and Holdings Limited ('RIIHL'), a wholly-owned subsidiary of Reliance Industries Limited ('RIL' or the 'Company') has entered into an agreement for acquisition of equity shares of SankhyaSutra Labs Private Limited ('SSL') for a cash consideration not exceeding INR 16,02,08,808/- (Indian Rupees Sixteen crore Two Lakh Eight Thousand Eight hundred and Eight only). RIIHL will further invest an amount of up to INR 200,00,00,000/- (Indian Rupees Two Hundred crore only) and is likely to be completed by December 2021.The said investment will translate into ~83% of equity capital in SSL on a fully diluted basis.
SSL is a High-Performance Computing (HPC) software simulation services company incorporated on 09 September 2015. SSL is focused on simulation services for manufacturing and Industrial companies like - automobile, aircraft manufacturing, oil and gas, and semiconductor manufacturing etc.
SSL is an early stage company, with turnover of INR 2.09 crore, INR 1.65 crore and Nil, and Net Profit (Loss) of INR (78.65) lakh, INR (11.41) lakh and INR (45.51) lakh in FY 2018, FY 2017 and FY 2016 respectively.
|
|
|