Reliance Industries Ltd (RIL) is set to consolidate its fast-moving consumer goods (FMCG) portfolio into a newly formed entity, New Reliance Consumer Products Ltd (New RCPL). This new company will function as a direct subsidiary of RIL, following a structure similar to that of Jio Platforms Ltd, marking a significant move towards streamlining its consumer business operations.

At present, Reliance’s FMCG brands — which cover diverse categories such as apparel, fashion, food, beverages, and personal care — are distributed across various group companies, including Reliance Retail Ltd (RRL), Reliance Retail Ventures Ltd (RRVL), and Reliance Consumer Products Ltd (RCPL). The proposed restructuring will transfer these brands and their associated businesses into New RCPL. The objective of this move is to bring sharper focus and dedicated management to the FMCG segment, which the company views as a substantial business in its own right.

The reorganisation is aimed at positioning New RCPL to attract a broader base of investors, beyond those currently backing Reliance’s retail business. According to the company, the FMCG segment requires specialised expertise, focused attention, and significant capital investments that differ from traditional retail operations. By creating a separate entity, RIL hopes to unlock value and provide an opportunity for sector-specific investor participation.

On June 25, the National Company Law Tribunal (NCLT) approved this internal restructuring plan, enabling RIL to proceed with transferring the consumer goods business from its retail arm into New RCPL. This restructuring is widely viewed as part of Reliance’s long-term strategy to prepare for potential initial public offerings (IPOs) in both its retail and consumer goods divisions.

New RCPL company will be aimed to take on responsibilities for the manufacturing, distribution, sales, and marketing of Reliance’s consumer products. It will also focus on making investments in subsidiaries and joint ventures linked to the consumer business. Also, the shareholding structure of New RCPL will mirror that of RRVL, with Reliance Industries holding an 83.56% stake, while other investors will hold 16.44%. This strategic move reinforces Reliance’s ambition to build an independent FMCG powerhouse, capable of attracting dedicated capital and expertise, while laying the groundwork for future listings that can further unlock shareholder value.