Reliance Industries announced that in accordance with the approved resolution plan for the resolution of Karkinos Healthcare (Karkinos), Reliance Strategic Business Ventures (RSBVL), wholly-owned subsidiary of the Company, has on 27 December 2024, subscribed to and has been allotted 1,00,00,000 equity shares of Rs. 10/- each, for cash, aggregating Rs. 10 crore and 36,50,00,000 Optionally Fully Convertible Debentures of Rs. 10/- each, for cash, aggregating Rs. 365 crore of Karkinos.
Further, Karkinos has cancelled the existing outstanding 30,075 equity shares held by the erstwhile shareholders of Karkinos in accordance with the approved resolution plan.
Post allotment of equity shares to RSBVL and cancellation of existing outstanding equity shares as above, Karkinos has become a step down wholly-owned subsidiary of the Company.
Karkinos was incorporated in India on July 24, 2020 and is in the business of providing technology-driven, innovative solutions for the early detection, diagnosis, and management of cancer.