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.