Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd, has acquired 7,86,191 fairness shares representing 100% of the fairness proportion capital of Shri Kannan Departmental Store Pvt Ltd (SKDS) for a attention of Rs. 152.5 crore.
SKDS, incorporated on September 15, 1999, is engaged inside the enterprise of retailing end result & veggies, dairy, staples, domestic & private care and widespread merchandise to consumers. SKDS presently operates 29 stores across Coimbatore and close by regions with a retail region of over 6 lakh sq. Ft.
SKDS stated sales from operations of Rs. 415 crore, Rs. 450 crore and Rs. 481 crore and Net Profit of Rs. 2 crore, Rs. 3 crore and Rs. Four crore in FY2018-19, FY2017-18 and FY2016-17 respectively.
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