Reliance Industries Limited has said that it has completed acquisition of majority shareholding from existing investors of Indiavidual Learning Pvt Ltd (“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,” the company said in a filing to the Bombay Stock Exchange.
With this transaction, RIL will hold 72.69 per cent (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.
Meanwhile, shares of the company were trading at Rs 998.95 apiece up 0.36 per cent from the previous close at 09:30 hrs on BSE.