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Reliance Industries’ arm acquires 96% stake in UrbanLadder

The said investment represents 96% holding in the equity share capital of UrbanLadder

Reliance Industries’ subsidiary company -- Reliance Retail Ventures (RRVL) has acquired equity shares of Urban Ladder Home Decor Solutions (UrbanLadder) for a cash consideration of Rs 182.12 crore. The said investment represents 96% holding in the equity share capital of UrbanLadder.

RRVL has a further option of acquiring the balance stake, taking its shareholding to 100% of the equity share capital of UrbanLadder. RRVL proposes to make a further investment of up to Rs 75 crore. The further investment is expected to be completed by December 2023. The aforesaid investment will further enable the group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group, while enhancing user engagement and experience across its retail offerings.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.