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- Reliance Acquires Healthcare Company Karkinos For ₹375 Crores| Here The Deal Details
Mumbai3 days ago
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Reliance Industries has acquired healthcare platform Karkinos. This deal has been done for Rs 375 crore. Reliance-owned Reliance Strategic Business Venture (RSBVL) has purchased Karkinos Healthcare Ltd. The company gave this information in its exchange filing on Saturday.
According to the filing, RSBVL has purchased 10 million (1 crore) equity shares of Karkinos at Rs 10 per share for a cash payment of Rs 10 crore. Whereas 365 million fully convertible debentures at the rate of Rs 10 have been purchased for a cash payment of Rs 365 crore.
Karkinos did business of ₹22 crore in FY23
Karkinos was launched on July 24, 2020. The technology-driven and oncology-centric platform focuses on early detection, diagnosis and management of cancer in India. In the financial year 2022-23, the company had done a turnover of about Rs 22 crore.
Reliance Digital Health buys 45% stake in HAGI
Last week, on December 20, another Reliance-owned company ‘Reliance Digital Health’ had purchased 45% shares in ‘Health Alliance Group Inc’ (HAGI). This deal was done for 10 million dollars (about Rs 85 crore).
America based healthcare company was formed on 21 December 2023. The company provides technology-driven solutions to underprivileged people in the US, India and the rest of the world. HAGI also works for the health sector, information technology and innovation.
Disney Star India and Viacom-18 merged in November.
Earlier in November, the merger of Disney Star India and Reliance’s Viacom-18 took place. This also includes Disney Hotstar and Jio Cinema. Both these companies announced this on Thursday, November 14. After this merger, it has become the largest entertainment network in the country.
Disney-Reliance Entertainment now has 75 crore viewers with 2 over the top i.e., OTT and 120 channels. Reliance has invested Rs 11,500 crore for this joint venture. The merger process was going on for the last one year.
Both the companies said- ‘This deal has been done for Rs 70,352 crore. Reliance will hold 63.16% stake and Disney will hold 36.84% stake in the company formed after the merger. The chairperson of this new company will be Nita Ambani. The vice chairperson will be Uday Shankar. These will give strategic guidance to the company.
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Reliance’s profit of ₹ 16,563 crore in July-September quarter: 4.77% less on annual basis; Jio’s net profit increased by 14% to ₹6,231 crore
Reliance Industries has today (October 14) released the results for the second quarter of the financial year 2024-25. In this the company has made a profit of Rs 16,563 crore. There has been a decline of 4.77% on annual basis. In the same quarter a year ago, the company’s consolidated net profit was Rs 17,394 crore.
At the same time, the company’s income in the July-September quarter was Rs 2,35,481 crore. In the same quarter a year ago, the company had generated a revenue of Rs 2,34,956 crore. There has been a slight increase of 0.22% on annual basis.
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