Reliance Industries’ subsidiary -- Reliance Retail Ventures has acquired 7,86,191 equity shares representing 100% of the equity share capital of Shri Kannan Departmental Store (SKDS) for a consideration of Rs 152.5 crore. The said investment will further strengthen the group’s retail operations and presence in the state of Tamil Nadu and will further enable retail and new commerce initiatives.
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.
