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Reliance Industries picks 5.56% stake in tech start-up for %5 million

VHL is a consortium of leading global energy majors, commodity traders and banks with a vision to digitise the global commodities trading industry

Press Trust of India  |  New Delhi 

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said on Saturday it has acquired 5.56 per cent equity stake in technology Vakt Holdings Ltd, UK (VHL), for $5 million (approx Rs 350 million)

Reliance Industries, in a regulator filing, said it has acquired the equity stake in VHL, a closely held start up entity engaged in the technology space, for cash aggregating to $5 million.

VHL is a consortium of leading global energy majors, and banks with a vision to digitise the global commodities trading industry, creating a secure, trusted ecosystem, powered by

"The strategic investment accelerates Reliance's digital journey, through active participation in an emerging and evolving, yet promising, enabled for energy markets," the company said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, December 22 2018. 20:35 IST
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