RIL in focus after subsidiary acquires 16% stake in US-based KTI

Date posted: Monday 12 March 2018

Reliance Industries’ (RIL) step-down subsidiary, Reliance Retail (RRL), has subscribed to 19.04 lakh common shares of KaiOS Technologies Inc. (KTI) at $3.675 per share, for cash aggregating to $7 million, translating to 16% of equity stake of KTI on a fully diluted basis. KTI is an emerging mobile operating system technology provider incorporated in the State of Delaware, USA.

(Business Standard)