Reliance Retail has bought 96% holding in the equity share capital of Urban Ladder and has a further option of acquiring the balance stake
Reliance Retail proposes to make a further investment of up to INR 75 Cr, which is expected to be completed by December 2023
Founded in 2012, Urban Ladder raised more than INR 700 Cr from top venture capital funds such as Sequoia Capital, SAIF Partners, Kalaari Capital and Steadview Capital
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd (RIL), has acquired equity shares of online furniture startup Urban Ladder Home Decor Solutions Pvt Ltd for INR 182.12 Cr.
Reliance Retail has bought 96% holding in the equity share capital of Urban Ladder and has a further option of acquiring the balance stake, taking its shareholding to 100%, the company informed the stock exchange on Saturday night.
Urban Ladder’s audited…