Reliance restructures, RPPMSL ceases to be wholly owned subsidiary

Reliance Industries (RELIANCE) announced today that Reliance Projects & Property Management Services Limited (RPPMSL) is no longer a wholly owned subsidiary of the company. The change occurred as Reliance transferred its 100% equity stake in RPPMSL to Reliance Retail Limited, a downstream subsidiary, for an aggregate consideration of Rs. 100.4 crore. This move is part of an internal restructuring initiative. Consequently, RPPMSL has become a step-down subsidiary. The transaction, characterized as a related party deal, was conducted on an arm's length basis. The exchange filing was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.