RIL share price gains as arm acquires stake in Urban Ladder Home Decor

RIL share price gains as arm acquires stake in Urban Ladder Home Decor


On Tuesday, November 17 the Reliance share price gained over 1 percent in the early trade after its subsidiary acquired a stake in Urban Ladder Home Decor Solutions.

Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries (RIL) has acquired equity shares of Urban Ladder Home Decor Solutions Private Limited for a cash consideration of ~ Rs 182.12 crore. 

The statement released by the company states  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 which is expected to be completed by December 2023.