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23 October, 2018 17:53 IST
Reliance Ind completes acquisition of majority stake in Embibe
Source: IRIS | 13 Jun, 2018, 11.14AM
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Reliance Industries (RIL) has completed the acquisition of majority stake from existing investors of Indiavidual Learning (Embibe), a leading AI-based education platform leveraging data analytics to deliver personalized learning outcomes to each student, RIL, Embibe and the other stakeholders have completed all the closing conditions and have successfully completed the sale and purchase of the shareholding of the existing investors in Embibe to RIL.

With this transaction, RIL (Q,N,C,F)* will hold 72.69% (on fully diluted basis) in Embibe. The founder and CEO of Embibe, Aditi Avasthi will continue in her leadership role and will drive the growth of the business.

Shares of the company gained Rs 1.35, or 0.14%, to trade at Rs 996.75. The total volume of shares traded was 92,892 at the BSE (11.01 a.m., Wednesday).



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