InvestorQ : Why has Reliance acquired a stake in Strand Life Sciences?
Rashi Mehra made post

Why has Reliance acquired a stake in Strand Life Sciences?

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Archita Jajjoo answered.
3 months ago
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Reliance Strategic Business Ventures has acquired 2.28 crore of Strand Life Sciences having face value of Rs.10 for a total consideration of Rs.393 crore. Reliance will invest in additional Rs.160 crore and this will give Reliance an 80.3% stake in Strand Life Sciences on a fully diluted basis. Strand specializes in genome testing, bioinformatics software and clinical research solutions to hospitals and pharma companies.

In the latest fiscal ended March 2021, Strand had reported turnover of Rs.88.70 crore and a net profit of Rs.8.48 crore. RIL has undertaken a slew of acquisitions including a solar panel manufacturer in Norway, Just Dial and Strand Life Sciences.

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