Reliance Retail Ventures hikes stake in Genesis Colors
(15 Sep 2018)
Reliance Industries announced that its subsidiary, Reliance Retail Ventures has purchased an additional stake of 3.10% equity holding in Genesis Colors for a consideration of Rs 8.39 crore, taking its total stake in GCL to 19.36%. This is in addition to 49.46% equity holding in GCL held by Reliance Brands, a subsidiary of Reliance Retail Ventures. Accordingly, the aggregate equity shareholding of RRVL and RBL in GCL stands at 69.10%