Reliance confirms acquisition of minority stake in Zivame

Reliance Industries (RIL), in an exchange filing, has listed Zivame as an associate company, which is defined as one in which a director, sponsor or venture capital fund holds equity in excess of 15%. Earlier, reports emerged stating Ronnie Screwvala's Unilazer Ventures had sold its 15% stake in Zivame to Reliance. RIL was also reportedly looking to acquire Zivame wholly.