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Reliance Industries is acquiring a significant stake in Shopsense Retail Technologies for up to ₹295.25 crore.
Shopsense Retail owns “Fynd”, India’s largest fashion online to offline e-commerce aggregator with real-time inventory access to over 9,000 stores. Started in 2012, Fynd received investments from over 90 investors including Kae Capital, IIFL and Google.
The transaction provided an exit to all investors. Promoters are retaining a minority stake in the company, reported ET.
Khaitan & Co advised Reliance and the team included Supratim Chakraborty and Suhana Islam, Sumantra Bose and Aritri Roy Chowdhury.
Bharucha & Partners represented Shopsense Retail and its promoters and the team was led by Partner Alka Bharucha, along with Managing Associate Swathi Girimaji and Associate Aishwarya Gupta.
J. Sagar Associates advised Googe International LLC and the team included Partner Probir Roy Chowdhury, Vishnu Nair, Yajas Setlur and Kavya Katherine Thayil.
Reliance proposes to make further investments in Fynd by December 2021 to increase their stake to approximately 87%.
Image from here.