RIL buys Karkinos Health for Rs 375 crore

Mumbai: Reliance Industries (RIL) on Saturday announced the acquisition of technology-led oncology platform Karkinos Healthcare for ₹375 crore, through its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL), in an all-cash deal.

"RSBVL has on December 27, 2024, subscribed to and has been allotted 10 million equity shares of ₹10 each, for cash, aggregating ₹10 crore and 365 million optionally fully convertible debentures of ₹10 each, for cash, aggregating ₹365 crore of Karkinos," RIL said in a filing to stock exchanges on Saturday.

RIL said that Karkinos has cancelled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of Karkinos in accordance with the approved resolution plan.


"Post-allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares as above, Karkinos has become a step down wholly-owned subsidiary of the company," the statement added.