19 Jan 2020 | 5:08 AM


Reliance Brands raises stake in Future101 Design to 17.5%
  Reliance Industries Ltd. | 17 Jan 2020 | 10:51 AM
Published on 10-31-2019
Reliance Industries Ltd (RIL) on Wednesday said its arm Reliance Brands has increased its stake in Future101 Design by 2.5 per cent to 17.5 per cent.

"Reliance Brands Ltd a subsidiary of the Company has increased its equity shareholding in Future101 Design Private Limited (Future101) by 2.5 per cent for a consideration of Rs 2.00 crore taking its equity shareholding in Future1 01 to 17.5 per cent" RIL said in a statement.

Luxury apparel firm Future101 reported annual turnover of Rs 27.91 crore Rs 22.18 crore and Rs 20.85 crore in 2018-19 2017-18 and 2016-17 respectively.

No regulatory approvals were required for the said acquisition of shares it said.

The investment does not fall within related party transaction and none of the company`s promoter or promoter group or group companies have interest in Future101 it added.