Reliance Industries Ltd.

Reliance Industries’ subsidiary - Reliance Retail Ventures’ (RRVL) wholly-owned subsidiary -- Reliance Consumer Products (RCPL) has completed the acquisition of 51% controlling stake in Lotus Chocolate Company (LOTUS) for an aggregate consideration of Rs 74 crore. The company has subscribed to non-cumulative redeemable preference shares of LOTUS for an aggregate consideration of Rs 25 crore.

RCPL has also completed the acquisition of equity shares pursuant to the open offer made under SEBI Takeover Regulations. RCPL has taken sole control of LOTUS with effect from May 24, 2023.

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.