Reliance Retail Acquires Urban Ladder For Rs 182 Crore

According to Hindustan Times, the Mukesh Ambani-led company has bought a 96% stake in the fledgling e-commerce firm, and has pledged to pump in a further Rs. 75 crore in the company by December 2023. In a statement announcing the acquisition, Reliance Industries Limited (RIL), the parent company of Reliance Retail, said: “Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries (RIL), has acquired equity shares of Urban Ladder Home Decor Solutions Pvt Ltd for a cash consideration of Rs 182.12 crore. RRVL has a further option of acquiring the balance stake, taking its shareholding to 100 per cent of the equity share capital of Urban Ladder. The further investment is expected to be completed by December 2023.”