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India Digest: Reliance to buy Milkbasket; Fairfax eyes exit from Seven Islands

India Digest: Reliance to buy Milkbasket; Fairfax eyes exit from Seven Islands Photo: Pixabay February 18, 2021 After a few months of negotiations, Reliance is finally close to acquiring subscription-based milk delivery startup Milkbasket. Separately, Fairfax-backed Seven Islands Shipping Ltd has filed draft red herring prospectus with SEBI for an initial public offering (IPO). Reliance close to acquiring Milkbasket Reliance Industries Ltd is close to acquiring subscription-based milk delivery startup Milkbasket for about $40-43 million, Entrackr reported. The talks between the two have been on for a while and have now reached the last stage of negotiations. Reliance already offered a term sheet early this month and the transaction could be announced soon, the report said quoting a source.

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