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Reliance Industrial Investments & Holdings to acquire SankhyaSutra Labs for Rs 16 cr
Reliance Industrial Investments & Holdings, a wholly owned subsidiary of Reliance Industries has into an agreement for acquisition of equity shares of SankhyaSutra Labs for cash consideration not exceeding Rs 16.02 crore. RIIHL will further invest an amount of up to Rs 200 crore and is likely to be completed by December 2021.The said investment will translate into 83% of equity capital in SSL on a fully diluted basis.SSL is a High-Performance Computing (HPC) software simulation services company incorporated on 09 September 2015. SSL is focused on simulation services for manufacturing and Industrial companies like - automobile, aircraft manufacturing, oil and gas, and semiconductor manufacturing etc
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