RIL acquires 96 percent stake in Urban Ladder for Rs 182 crore

NEW DELHI: Billionaire Mukesh Ambani-owned Reliance Industries’ retail arm has picked up a 96 percent 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 percent holding in the equity share capital of Urban Ladder, it added.