Mukesh Ambani’s foray into the retail space increased Reliance’s foray in the market by 39 per cent during the pandemic. Now his daughter Isha Ambani has stepped up to take his work forward, with big ticket acquisitions such as iconic homegrown Indian beverage brand Sosyo, among others. Under her leadership, Reliance Retail Ventures, alongside Reliance Consumer Products, has made an open offer to scale up its stake in Lotus Chocolate by 26 per cent.
For 33.38 lakh shares of Lotus Chocolate worth Rs 115.50 each, the firms will together spend Rs 38.56 crore as part of the open offer between February 21 and March 6. Lotus Chocolate makes chocolates, cocoa products and cocoa derivatives, and RCPL had announced the acquisition of a 51 per cent share in the firm last week.