Billionaire Mukesh Ambani’s Reliance Industries (RIL) announced on Friday that it has fully transferred the ownership of one of its subsidiaries Reliance Projects & Property Management Services Ltd (RPPSMSL) to its retail arm Reliance Retail Ltd. This means that RPPSMSL is no longer a direct subsidiary of RIL but has now become a step-down subsidiary under its retail division. Isha Ambani Mukesh Ambani’s daughter plays a key role as the Executive Director of Reliance Retail Ventures Ltd (RRVL). She has been instrumental in driving the company’s growth expanding its digital presence and introducing new formats such as Ajio and Tira. In its official filing RIL stated that the 100 per cent equity stake in RPPSMSL was transferred to Reliance Retail for Rs. 100.4 crore as part of an internal restructuring process. Since the deal took place between RIL and its own subsidiary it was classified as a related party transaction and was carried out on an arms length basis. RILs latest acquisition Recently Mukesh Ambani-led Reliance Industries (RIL) announced a fresh investment and acquisition through its wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL). As part of the deal RSBVL acquired a 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL) from Welspun Tradings a subsidiary of Welspun Corp for a total of Rs. 1 lakh. Following this acquisition NTPL became a step-down wholly owned subsidiary of RIL effective from March 20. After the takeover NTPL signed a share purchase agreement with Welspun Corp to acquire a 74 per cent equity stake in Nauyaan Shipyard Private Limited (NSPL). This deal was valued at Rs. 382.73 crore giving NSPL an enterprise value of Rs. 643.78 crore.