Reliance is set to acquire the subscription-based milk delivery startup Milkbasket in a $40-43 million deal, Entrackr reported. Reliance already offered a term sheet early this month and the transaction could be announced soon, it added. Milkbasket's Co-founder and CEO Anant Goel will join Reliance whereas the other Co-founders will move after the completion of the transaction, Entrackr reported.