Reliance Retail Ventures acquires 16.31% stake in Genesis Colors

Aggregate holding of Reliance Retail Ventures and Reliance Brands in Genesis Colors stands at 65.77%

Reliance Industries announced that its subsidiary, Reliance Retail Ventures (RRVL) has purchased 16.31% equity holding in Genesis Colors (GCL) for a consideration of Rs. 34.80 crore. This is in addition to 49.46% equity holding in GCL held by Reliance Brands (RBL), a subsidiary of RRVL, intimation of which was given vide previous communication dated August 24, 2018. Accordingly, the aggregate equity shareholding of RRVL and RBL in GCL stands at 65.77%.

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