Reliance Retail Ventures Ltd increases stake in Genesis Colors Ltd to 19.63 pc
Business

Reliance Retail Ventures Ltd increases stake in Genesis Colors Ltd to 19.63 pc

Mumbai, Sep 15: Mukesh Ambani Controlled Reliance Industries Limited (RIL) said that its Subsidiary Reliance Retail Ventures Limited (RRVL), has purchased an additional stake of 3.10 pc equity holding in Genesis Colors Limited (GCL) for a consideration of Rs 8.39 crore, taking its total stake in GCL to 19.63 pc.

This is in addition to 49.46 pc equity holding in GCL held by Reliance Brands Limited (RBL), a subsidiary of RRVL, intimation of which was given vide previous communication dated September 8, 2018.

Accordingly, the aggregate equity shareholding of RRVL and RBL in GCL stands at 69.10 pc,RIL said in a filing with BSE. (UNI)