Reliance Industries announced that its subsidiary, Reliance Brands has increased its equity shareholding in Future101 by 2.5% for a consideration of Rs 2 crore, taking its equity shareholding in Future101 to 17.5%.
Future101 reported annual turnover of Rs. 27.91 crore, Rs. 22.18 crore and Rs. 20.85 crore in FY2018-19, FY 2017-18 and FY 2016-17 respectively.
No regulatory approvals were required for the said acquisition of shares. The investment does not fall within related party transaction and none of the Company's promoter I promoter group I group companies have interest in Future101.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
