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Reliance Retail Ventures acquires 96% stake in Urban Ladder

Reliance Retail Ventures Ltd, a wholly-owned subsidiary of Reliance Industries on Monday announced that it has acquired 96 percent equity shares in online furniture retailer Urban Ladder for Rs 182.12 crores.

In a filing with the stock exchange, Reliance said, “RRVL has acquired 96% stake in furniture retailer Urban Ladder for Rs 182.12 crore.”

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“RRVL has an option to acquire remaining stakes that will take its shareholding in the Urban ladder to 100 percent,” the filing said.

“The RRVL proposes to make further investments of up to Rs 75 crores by the December end,” the company added.