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Reliance Retail has completed a major internal restructuring, transferring its fast-moving consumer goods (FMCG) business into a newly created subsidiary, New Reliance Consumer Products Ltd (New RCPL). The move, formalized through a regulatory filing late Monday, is aimed at sharpening focus on the company’s rapidly expanding packaged goods portfolio.
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 carved out of RRL and shifted to New RCPL as a going concern.
The scheme became effective December 1, 2025, following which the existing RCPL entity stands dissolved. As part of the demerger process, New RCPL will issue one equity share of ₹10 for every two equity shares of ₹10 held in RRVL, to RRVL shareholders.
Once the new shares are allotted, the earlier share capital held by RRVL in New RCPL will be cancelled, resulting in New RCPL becoming an 83.56% direct subsidiary of Reliance Industries Ltd (RIL), which holds the same stake in RRVL.
RCPL has emerged as one of India’s fastest-growing FMCG players, surpassing ₹11,000 crore in revenue within three years of launch. RIL earlier reported that RCPL generated ₹9,850 crore in gross revenue in the first half of FY26 alone. Since its entry into the FMCG sector in 2022, Reliance has launched in-house brands such as Independence and taken over legacy names including Campa Cola, with a diverse portfolio spanning beverages, home care, packaged staples, and personal care products.
For the financial year ending March 31, 2025, RRVL posted a consolidated turnover of ₹3.30 lakh crore, underscoring the scale at which the conglomerate aims to grow its dedicated FMCG arm as part of its broader retail strategy.
