RIL raises stake in US-based SkyTran to 26.3%

Date posted: Sunday 10 May 2020

Mukesh Ambani-led Reliance Industries Ltd (RIL) has increased its stake in US-based SkyTran Inc, a venture-funded technology company that develops pod car transport systems. In a stock exchange filing, RIL said it has raised its holding in SkyTran to 26.31% from 17.37% on a fully-diluted basis. The shareholding was hiked after conditions in the original agreement were met, it added. RIL did not disclose the details of the deal.

(Live Mint)