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Reliance gets shareholders nod for hiving off O2C into separate unit


Billionaire Mukesh Ambani s Reliance Industries Ltd on Friday said it has secured approval of its shareholders and creditors for hiving off its oil-to-chemical (O2C) business into a separate unit.
As per directions of the National Company Law Tribunal (NCLT), the company convened meetings of equity shareholders, lenders and unsecured creditors for consideration of a resolution for transferring the O2C business to a separate subsidiary - Reliance O2C Limited.
In stock exchange filings, RIL said 99.99 per cent of shareholders, who participated in the meeting held through video conferencing, voted in favour of the resolution.
While 100 per cent of the secured creditors voted in favour of the resolution, 99.99 per cent of unsecured creditors cast their vote in favour of the resolution. ....

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Scoop: Jio Platforms set to invest $200 million in Kalaari Capital


Synopsis
Jio Platforms’ investment in Vani Kola’s Kalaari Capital will give Reliance Industries an early line of sight into startups and upcoming sectors.
ETtech
Reliance Industries has closed a $100-million fund infusion into Kalaari Capital, with an additional commitment of $100 million slated for later. (Illustration: Rahul Awasthi/ETtech)
Mumbai | Bengaluru:
Reliance Industries’ Jio Platforms is finalising an investment of up to $200 million in domestic venture capital fund Kalaari Capital, according to two people in the know of the matter.
The Mukesh Ambani-led conglomerate has closed a $100-million infusion, with an additional commitment of $100 million slated for later, said another person aware of the group s plans to deepen its footprint in India’s burgeoning technology sector. ....

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