RIL’s retail arm RRVL picks up 96% stake in Urban Ladder for over Rs 182 cr

Billionaire Mukesh Ambani-owned Reliance Industries’ retail arm has picked up 96 per cent stake in online furniture retailer Urban Ladder for over Rs 182 crore.

Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries (RIL) , has acquired equity shares of Urban Ladder Home Decor Solutions Pvt Ltd for a cash consideration of Rs 182.12 crore, RIL said in a statement on Saturday.

The investment represents 96 per cent holding in the equity share capital of Urban Ladder, it added.

RRVL has a further option of acquiring the balance stake, taking its shareholding to 100 per cent of the equity share capital of Urban Ladder, it said.

Besides, RRVL has proposed to make a further investment of up to Rs 75 crore in Urban Ladder.