Reliance Industries has transferred its 100% equity stake in Reliance Projects & Property Management Services (RPPMSL) to Reliance Retail, a 83.56% step down subsidiary of the company (not part of the promoter/promoter group of the company) for an aggregate consideration of Rs 100.4 crore.
Thus, RPPMSL has ceased to be a wholly owned subsidiary of the company and has become a stepdown subsidiary of the company.
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.
