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Reliance arm buys 16.31% in Genesis

September 09, 2018 10:36 pm | Updated 10:36 pm IST - NEW DELHI

PTI

Reliance Retail has purchased 16.31% stake in ready-made garment wholesaler and retailer Genesis Colors Ltd. (GCL) for ₹34.80 crore, Reliance Industries said on Sunday.

Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries (RIL). The stake buy by the group in GCL is in addition to the 49.46% stake already held by Reliance Brands, a subsidiary of RRVL.

“... Reliance Retail Ventures Ltd. (RRVL), a subsidiary of the company, has purchased 16.31% equity holding in Genesis Colors Limited (GCL) for a consideration of ₹34.80 crore,” RIL said in a BSE filing.

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