New Delhi: Reliance Industries on Friday announced that retail Reliance Reliance Retail Ventures Limited (RRVL) will acquire share ownership only in calls for RS 3,497 Crore.
The Mukesh Ambani company will have 40.95 percent of the shares and will make an open offer to obtain up to 26 percent in accordance with the takeover regulations.
VSS Mani will continue as the President Director and Chief Executive to lead only the dial through the next growth phase, Reliance Retail said in the release.
Talking about this transaction, Isha Ambani, Director of RRVL, said: “Investment only in the connection underlines our commitment to new trade by increasing digital ecosystems for millions of our partner traders, micro, small and looking forward.
We look forward to working with a very experienced management team Only dial because we are increasingly expanding the business forward.
“The capital instilled by RRVL will help encourage growth and expansion only dial into the local list and a comprehensive trade platform, the company states.
This investment will take advantage of existing databases only at 30.4 million listings and existing consumer traffic from 129.1 million unique quarterly users (on March 31, 2021), he added.
Reliance Retail to acquire the majority shares only in the dial for RS 3,497 Crore
