Reliance Industries Expands Healthcare Portfolio with ₹375 Crore Karkinos Acquisition

Reliance Industries Limited (RIL), led by Mukesh Ambani, has acquired Karkinos Healthcare, a technology-driven oncology-focused platform, for ₹375 crore. The acquisition was executed through RIL’s wholly-owned subsidiary, Reliance Strategic Business Ventures Limited (RSBVL), which subscribed to shares and debentures of Karkinos as part of the transaction.

Financial Terms

RSBVL subscribed to:

• 1 crore equity shares of ₹10 each, totaling ₹10 crore.
• 36.5 crore optionally fully convertible debentures of ₹10 each, totaling ₹365 crore.

The deal was finalised on December 27, 2024, and Karkinos cancelled 30,075 equity shares held by previous shareholders under an approved resolution plan.

About Karkinos Healthcare

Incorporated on July 24, 2020, Karkinos specialises in early cancer detection, diagnosis, and management using advanced technology. The company aims to make cancer care more affordable while maintaining profitability.

Key highlights:

• Turnover: ₹22 crore in FY 2022-23.
• Partnerships: Collaborates with 60 hospitals across India (as of December 2023).
• Projects: Developing a 150-bed multispecialty cancer hospital in Imphal, Manipur.
• Revenue Streams: Advanced Cancer Care Diagnostics and Research (ACCDR), Distributed Cancer Care Network (DCCN), corporate tie-ups for early diagnosis, and cancer care hospitals.

Previous Investors

Karkinos’ past investors include Ewart Investments (Tata Sons subsidiary), Reliance Digital Health, Mayo Clinic (US), Sundar Raman, and Ravi Kant (ex-MD of Tata Motors).

Strategic Impact

This acquisition aligns with RIL’s plan to expand its healthcare portfolio, offering affordable cancer care services across India.

Regulatory Approval

The National Company Law Tribunal (NCLT), Mumbai, approved RSBVL’s resolution plan under the Corporate Insolvency Resolution Process. The deal required no additional regulatory clearances.

The acquisition marks a significant step in RIL’s diversification into healthcare services.

About Reliance Industries Ltd 

Reliance Industries Limited is a major Indian multinational company based in Mumbai, Maharashtra. It operates in various sectors, including energy, petrochemicals, natural gas, retail, entertainment, telecommunications, media, and textiles.

Reliance Industries share price is trading at ₹1,220.25, reflecting a slight dip of ₹0.80 (0.066%) as of 9:50 AM on December 30. The stock opened at ₹1,216.40 and reached a high of ₹1,220.75 and a low of ₹1,214.15 during the session. With a market capitalisation of ₹16.51 lakh crore, Reliance Industries has a price-to-earnings (P/E) ratio of 24.32 and a dividend yield of 0.41%. Over the past year, the stock has touched a 52-week high of ₹1,608.80 and a 52-week low of ₹1,201.50.

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