#MukeshAmbani-led business conglomerate #Reliance Industries Industries has acquired 100% stake in Coimbatore’s Kannan Departmental Store for Rs 152.50 crore. In a regulatory filing with the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange Limited on March 4, Reliance Industries said that its wholly owned subsidiary Reliance Retail Ventures Limited purchased all the equity shares in Shri Kannan Departmental Store Private Limited.
“The aforesaid investment will further strengthen the group’s retail operations and presence in the state of #TamilNadu and will further enable retail and new commerce initiatives,” the filing added.
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