In yet another startup acquisition, Reliance Industries has scooped up Hyderabad-based SaaS startup NowFloats Technologies. The filings with the stock exchange show that Reliance Strategic Business Ventures Limited, a wholly-owned subsidiary of Reliance Industries Limited has acquired equity shares of NowFloats for a cash consideration of INR 141.63 Cr ($20 Mn). With this, Reliance will hold 85% equity in NowFloats.
— Inc42
Algo Legal advised
Cyril Amarchand Mangaldas Mumbai advised
2019-12-12
Deal value: INR 141.63 crore.
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.