Reliance Retail completes restructuring; New RCPL takes over FMCG business

New Delhi: Reliance Retail has completed an internal restructuring exercise that transfers its consumer business to a newly created entity, New Reliance Consumer Products (New RCPL), on a going-concern basis.

According to a regulatory filing issued late on Monday, New RCPL is now a direct subsidiary of Reliance Industries (RIL), which will hold an 83.56 per cent stake in the company.

Under the scheme of arrangement involving Reliance Retail (RRL), Reliance Retail Ventures Ltd (RRVL), their shareholders and creditors, and Reliance Consumer Products (RCPL), the FMCG brands business has moved from RRL to New RCPL.

The filing stated that the “scheme has become effective from December 1, 2025, and in terms of the scheme, RCPL, a subsidiary of the company, stands dissolved effective December 1, 2025.”

It added: “Further, in terms of the Scheme, as a consideration for the demerger of the Consumer Brands Business Undertaking from RRVL to New RCPL, New RCPL will allot one fully paid-up equity share of Rs 10 each for every two fully paid-up equity shares of Rs 10 each of RRVL to the shareholders of RRVL.”

Following the allotment, the pre-scheme paid-up share capital of New RCPL held by RRVL will be cancelled and reduced without consideration, resulting in New RCPL becoming an 83.56 per cent direct subsidiary of RIL.

RIL currently holds 83.56% in RRVL, with the remaining 16.44% owned by other investors.

RCPL, one of the group’s youngest FMCG businesses, has expanded rapidly since its inception in FY25, crossing revenues of Rs 11,000 crore within three years. In its October 17 earnings statement, RIL noted that RCPL recorded gross revenue of Rs 9,850 crore in the first half of FY26.

Reliance forayed into the FMCG sector in 2022 and has since introduced brands such as Independence while also acquiring labels including Campa Cola. The company’s portfolio now spans categories such as beverages, staples, soaps, detergents, dishwashing liquids and floor cleaners.

RRVL reported a consolidated turnover of Rs 3.30 lakh crore for the year ending March 31, 2025.