Reliance Industries buys Urban Ladder

Reliance Retail Ventures Ltd (RRVL), the retail arm of Reliance Industries Ltd (RIL), has acquired a 96 per cent stake in Urban Ladder for Rs 182.12 crore. The investment represents 96 per cent holding in the equity share capital of the online furniture retailer.

“RRVL 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 late night regulatory filing on Saturday.

Urban Ladder was founded by Rajiv Srivatsa and Rajiv Goel in 2012. It had earlier raised over Rs 700 crore from venture capital funds such as Kalaari Capital, Sequoia Capital and SAIF Partners.