Reliance Industries Ltd.

Reliance Industries’ (RIL) subsidiary -- Reliance Retail Ventures (RRVL) has purchased 16.31% equity holding in Genesis Colors (GCL) for a consideration of Rs 34.80 crore. This is in addition to 49.46% equity holding in GCL held by Reliance Brands (RBL), a subsidiary of RRVL, intimation of which was given vide previous communication dated August 24, 2018.

Accordingly, the aggregate equity shareholding of RRVL and RBL in GCL stands at 65.77%. This acquisition adds to the existing portfolio of branded fashion retail outlets.

RIL 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.