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Reliance-owned SaaS startup NowFloats changed to a public company

According to regulatory documents, NowFloats, a SaaS startup owned by Reliance Industries, has gone public. As a result, the business is now known as NowFloats Technologies Ltd rather than NowFloats Technologies Pvt Ltd. The Securities and Exchange Board of India (SEBI) regulations, which demand that subsidiaries of a listed firm become public corporations, were the reason why NowFloats decided to become a public company. On the other hand, NowFloats doesn’t have any immediate ambitions to float on stock exchanges. The announcement comes about 20 months after NowFloats’ 85% ownership was purchased by Reliance Industries Ltd (RIL) for $20 million.

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