Reliance Industrial Investments Holdings Ltd (RIIHL), the investment arm of India’s most valuable company, plans to raise ₹13,900 crore through a rights issue of non-cumulative optionally convertible preference shares. Over the past year, RIL and its units have been acquiring stakes in various ventures. The company’s cash and cash equivalents increased to ₹1.33 trillion at the end of 31 March from ₹78,063 crore a year earlier. Over the past year, RIL has signed deals with Haptik Infotech, Saavn music app, Eros International Plc, NetraDyne Inc., Karexpert Technologies, Vakt Holdings, Indiavidual Learning Pvt. On the retail front, RIL is said to be in talks to buy a controlling stake in UK-based toy maker Hamleys, according to media reports.

Source: Mint April 30, 2019 18:33 UTC