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Reliance Industries, through its subsidiary Reliance Strategic Business Ventures, increased its stake in US tech company SkyTran to 26.3% by converting shares it had acquired in November 2019 and March 2020. SkyTran is developing personal rapid transit systems using magnetic levitation technology to address traffic congestion. Reliance invested in SkyTran to help advance solutions in telecom, digital platforms, materials, and batteries. No Indian regulatory approvals were required for the share acquisition.

Author

sudhakarrrrrr

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EN