Reliance Industries Limited Reliance Digital Health Limited (RDHL), a wholly owned subsidiary of Reliance Industries Limited, has acquired Health Alliance Group Inc. (HAGI) has purchased 45% equity stake. An agreement of $10 million has been signed for this. This value in Indian currency is approximately Rs 85 crore.
HAGI is a US-based healthcare company, incorporated as a Delaware corporation on December 21, 2023, Reliance Industries said in an exchange filing. It specializes in designing technology-driven solutions for the underprivileged in the United States, India, and the rest of the world. This investment in HAGI will enable RDHL to develop a virtual diagnostic and care platform. This will expand access to healthcare for underprivileged communities.
The deal will be completed in 2 weeks
The filing said that this investment is not a related party transaction and none of the promoters/promoter group/group companies of the company has any interest in this transaction. Reliance Industries said the transaction is expected to be completed in approximately 2 weeks. No government or regulatory approval is required for this transaction.
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Reliance Industries shares fell 5 percent in a week
Share price of Reliance Industries closed at Rs 1206, down 2 per cent on BSE on Friday, December 20. The stock touched a new 52-week low of Rs 1202.10 during the day. The market cap of the company is Rs 16.32 lakh crore. The share price has fallen 5 percent in the last one week. The stock has become cheaper by 19 percent in 3 months. As of October 29, 2024, promoters held 50.24 percent stake in Reliance Industries.
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