Reliance Retail, one of India’s biggest retail companies, has completed an internal restructuring. As part of this process, its consumer business has been shifted to a new company called New Reliance Consumer Products Ltd (New RCPL). According to a late-night regulatory filing on Monday, New RCPL is now a direct subsidiary of Reliance Industries Ltd (RIL). The Mukesh Ambani-led group will hold 83.56% stake in the new entity.
Under the approved scheme of arrangement involving Reliance Retail Ltd (RRL), Reliance Retail Ventures Ltd (RRVL) and Reliance Consumer Products Ltd (RCPL), the FMCG brands business has been moved from RRL to the newly created New RCPL. The company said that the scheme became effective on December 1, 2025, and with this, the earlier RCPL entity stands dissolved from the same date.
It also added that, as part of the demerger, New RCPL will issue one fully paid equity share of Rs 10 for every two fully paid equity shares of Rs 10 held in RRVL by its shareholders.
New RCPL becomes direct subsidiary of Reliance Industries after share restructuring
Once the new shares are allotted, the earlier share capital of New RCPL that was held by RRVL will be cancelled without any payment. After this step, New RCPL will officially become an 83.56% direct subsidiary of Reliance Industries (RIL). RIL currently holds 83.56% stake in RRVL, while the remaining 16.44% is owned by other investors.
RCPL has quickly grown into one of the fastest-rising companies in the FMCG sector, crossing Rs 11,000 crore in revenue within just three years of its launch in FY 2025. In its earnings report on October 17, RIL stated that RCPL recorded Rs 9,850 crore in gross revenue in the first half of FY 2026.
Reliance stepped into the FMCG market in 2022 and has since launched its own brands like Independence and also acquired well-known names such as Campa Cola. Today, it operates across several FMCG categories, including soft drinks, soaps, staples, dishwashing liquids, detergents and floor cleaners. For the financial year ending March 31, 2025, RRVL reported a consolidated revenue of Rs 3.30 trillion.
