Reliance Industries has completed the first major equity allocation in its newly carved out fast moving consumer goods business, Reliance Consumer Products Ltd, marking a decisive step in separating its consumer brands from the retail engine.
According to regulatory filings with the Registrar of Companies, Reliance has allotted equity in RCPL to 13 entities backed by global financial investors, including TPG, Qatar Investment Authority, KKR, Silver Lake, GIC and Mubadala. Together, these investors now hold 16.45 percent in RCPL, while Reliance Industries retains the remaining 83.55 percent stake.
The share allotment was executed on December 2, a day after RCPL was formally demerged from Reliance Retail Ventures and became a direct subsidiary of Reliance Industries. Shares were issued at a face value of Rs 10 with a premium of Rs 0.88 per share. Following the transaction, RCPL’s paid up share capital rose sharply from Rs 6 lakh to Rs 3,505.62 crore.
To support the equity issuance and future capital needs, RCPL has also increased its authorised share capital to Rs 10,000 crore. The ownership structure mirrors that of Reliance Retail Ventures, where the same set of institutional investors already hold minority stakes.
Market observers view the move as more than a routine internal restructuring. Analysts point out that carving out a clean, investor backed FMCG entity could position RCPL for strategic partnerships or even a separate public listing in the future. The filings note that consumer goods require a different operating focus, capital profile and investor base compared to large scale retail.
RCPL now owns the entire FMCG portfolio previously housed within the retail business. This includes Campa Cola, currently the company’s highest selling brand, along with staples label Independence and legacy names such as Velvette and Ravalgaon, which are being reintroduced in updated formats.
With the consumer products arm now ring fenced, Reliance appears to be laying the groundwork for sharper execution and independent growth in one of India’s most competitive FMCG markets.
