Business Update2 Jan 2024, 06:56 pm
Reliance Industries Invests Rs 3300 Crore in Alok Industries
AI Summary
Reliance Industries Limited has subscribed to 3300,00,00,000 9% non-convertible redeemable preference shares of Re.1/- each of Alok Industries Limited for cash at par, aggregating Rs. 3,300 crore. The acquisition is a related party transaction approved by shareholders and is on arm's length basis.,
Key Highlights
- Reliance Industries invests Rs 3,300 crore in Alok Industries
- Transaction is a related party deal approved by shareholders
- Acquisition is on arm's length basis