Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited (RIL) has acquired equity shares of Urban Ladder Home Decor Solutions Private Limited (UrbanLadder) for a cash consideration of Rs 182.12 Cr.
The investment represents 96% holding in the equity share capital of UrbanLadder. RRVL has a further option of acquiring the balance stake, taking its shareholding to 100% of the equity share capital of UrbanLadder.
RRVL proposes to make a further investment of up to Rs 75 Cr. The further investment is expected to be completed by December 2023.
The aforesaid investment will further enable the group`s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group, while enhancing user engagement and experience across its retail offerings.