Reliance Industries said its Reliance Industrial Investments & Holdings subsidiary has agreed to invest Rs 295.25 crore in Mumbai-based Fynd, in a deal that would see early backers Google, Venture Catalysts and Kae Capital exiting the retail-focused startup. In a filing with the Bombay Stock Exchange, RIL said its subsidiary has an option to further invest Rs 100 crore in Shopsense Retail Technologies, which runs Fynd, by December 2021. — The Economic Times

The transaction will provide an exit to nearly 90 investors. The remaining 20% of the share capital of Fynd is being retained by the promoters.

Bharucha & Partners advised Shopsense Retail Technologies Private Limited led by a team of partner Alka Bharucha, managing associate Swathi Girimaji and associate Aishwarya Gupta.

Khaitan & Co advised Reliance Industries-owned Reliance Industrial Investment and Holdings Limited.

J Sagar Associates (JSA) advised Google International LLC.

2019-08-03

Deal value: approximately INR 295 crores

{incomplete}