Reliance Industries to acquire 87.6% stake in Fynd for Rs 295 crore

Reliance Industries is planning to acquire an 87.6% stake in Shopsense Retail Technologies, also known as Fynd, for Rs 295 crore. The company already runs retail stores and has announced plans to diversify into e-commerce. Fynd provides technology platform and solutions to merchants to manage their inventory and sales across multiple demand channels for consumers, including e-commerce platforms.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.