look news india
Mukesh Ambani: Businessman Mukesh Ambani has played a big bet by purchasing technology-based healthcare platform Karkinoz for Rs 375 crore. Reliance Industries on Saturday said its wholly-owned subsidiary Reliance Strategic Business Ventures (RSBVL) has completed the acquisition of Karkino Healthcare Pvt Ltd with the allotment of requisite shares. This acquisition will help Reliance Group to enter the rapidly growing healthcare business in India.
What do carcinomas do?
Carkinos was formed on July 24, 2020 in India and the company provides technology-based solutions for early detection and treatment of cancer. Its previous key investors include Evert Investments Ltd (100 per cent subsidiary of Tata Sons), Reliance Digital Health Ltd (subsidiary of Reliance Industries), Mayo Clinic (US), Sundar Raman (Director of Reliance Foundation Youth Sports) and Ravi Kant. Are. (Former MD of Tata Motors). The company provides services related to early detection and effective treatment of cancer, the cost of which is much lower than the current rates. Despite this the company is earning good profits. The company has partnered with about 60 hospitals by December 2023.
The deal was done at the rate of Rs 10 per share.
RIL subsidiary Reliance Strategic Business Bankers has purchased 1 crore shares in cash at Rs 10 per share, totaling Rs 10 crore. Furthermore, he paid Rs. Also purchased 36.50 crore optionally fully convertible debentures of Karkino at Rs 10 per share. The total value of these shares is Rs 365 crore. As part of this acquisition, Karkinos canceled the existing outstanding 30,075 equity shares held by the then shareholders of the company. Following the allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares, Karkinose has become a wholly owned subsidiary of RIL. Karkinos for FY23 at Rs. 21.911 crore, which was Rs.21.911 crore in FY22. 0.918 crore in FY21 and Rs. Was 0.004 crores.
