Reliance Industries jumps as its step down subsidiary acquires 51% stake in Lotus Chocolate Company
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Reliance Industries is currently trading at Rs. 2488.45, up by 49.90 points or 2.05% from its previous closing of Rs. 2438.55 on the BSE.
The scrip opened at Rs. 2453.60 and has touched a high and low of Rs. 2492.00 and Rs. 2449.15 respectively. So far 60476 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2816.35 on 03-Jun-2022 and a 52 week low of Rs. 2180.00 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2492.00 and Rs. 2415.70 respectively. The current market cap of the company is Rs. 1681310.43 crore.
The promoters holding in the company stood at 50.41% while Institutions and Non-Institutions held 38.70% and 10.88% respectively.
Reliance Industries’ subsidiary - Reliance Retail Ventures’ (RRVL) wholly-owned subsidiary -- Reliance Consumer Products (RCPL) has completed the acquisition of 51% controlling stake in Lotus Chocolate Company (LOTUS) for an aggregate consideration of Rs 74 crore. The company has subscribed to non-cumulative redeemable preference shares of LOTUS for an aggregate consideration of Rs 25 crore.
RCPL has also completed the acquisition of equity shares pursuant to the open offer made under SEBI Takeover Regulations. RCPL has taken sole control of LOTUS with effect from May 24, 2023.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
