Reliance Industries arm invests $sixteen million in US start-up NetraDyne

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New Delhi: a completely-owned subsidiary of Reliance Industries Ltd (RIL) has invested $sixteen million (aboutRs.107 crore) in US-based generation start-up NetraDyne Inc.

RIL’s subsidiary “Reliance business Investments and Holdings Ltd is investing $16 million in compulsorily convertible desired shares of a generation begin-up NetraDyne Inc., u.s.,” RIL stated in a submitting to the exchanges.

half of the payment turned into performed by way of 30 may also and the next tranche could be donethrough 30 might also 2017. in line with the statement, on conversion of the investment or desired shares, Reliance business Investments and Holdings gets 40% of the fairness or 1.50 crore stocks of NetraDyne.

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