Reliance Industries Ltd (RIL) and its retail subsidiary, Reliance Retail Ventures Ltd (RRVL), have completed the current phase of partner induction and fundraise exercise for RRVL, the company said in a press statement today. "RRVL has received cumulative subscription amount of ₹47,265 crore from the following financial partners and allotted 69,27,81,234 equity shares to them. The respective equity stake in RRVL, on a fully diluted basis," the company said in its statement. This week RRVL acquired 96% stake Urban Ladder Home Decor Solutions for a cash consideration of ₹182.12 crore. RRVL said it proposes to make a further investment of up to ₹75 crore, which is expected to be completed by December 2023.

Source: Mint November 19, 2020 13:29 UTC