Now, the aggregate equity shareholding of RRVL and RBL in GCL stands at 65.77 per cent, Reliance said in its disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The acquisitions will help the company to strengthen its footage in the retail industry and support its long term strategy to enhance its value in the retail industry.
No regulatory approvals were required for the said acquisition of shares as these investments do not fall within related party transaction and none of RIL’s promoter / promoter group / group companies have interest in these entities, RIL said.
GCL’s annual turnover in FY 2017-18 is ₹86.02 crore (provisional). GCL reported a turnover of ₹80.04 crore and ₹114.16 crore in FY 2016-17 and FY 2015-16, respectively.
GCL was incorporated in November, 1998 and is in the business of retailing and wholesale of branded readymade garments, bags, footwear and accessories directly and through its subsidiary/joint ventures. This acquisition adds to the existing portfolio of branded fashion retail outlets. (RR)
Fibre2Fashion News Desk – India
| On 18th May 2021
China's textile industry showed strong performance in the first...
| On 18th May 2021
Over 280,000 employees in Ireland’s retail sector returned to work as ...
The price of organic cotton fibre in India is expected to increase in ...
Marry craft and utility
Good tidings expected for textile industry
Value of 'Made in India' should get more importance
Dhirubhai & Arvind Shah
It supplies synthetic fabrics to top international brands like M&S,...
Rishav Bajoria & Subham Sengupta
Launched in October 2020, the Gumti app could not have come at a more...
Shambhu Nath Jha
Leading research and consulting firm Fact.MR recently launched a report on ...
From May 14 to 17, international exhibitors will present the entire...
Bebop Sensors' smart fabrics allows for a new level of interaction between ...
Kevin Young & Tom Lucas
Web Industries is a precision formatter of nonwoven materials used in baby ...
Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...
Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep
Established in 2012, Sarah & Sandeep is a luxury menswear label...
Sailesh Singhania Label
The Sailesh Singhania label was created to promote handwoven sarees and...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.