Reliance Industries announced the reaffirmation of its credit ratings by India Ratings and Research Private Limited. The rating agency maintained its positive assessment of the company's financial position across multiple debt instruments.

Credit Rating Details

India Ratings and Research Private Limited reaffirmed the following credit ratings for Reliance Industries:

The IND AAA rating represents the highest credit quality with the lowest credit risk, while the stable outlook indicates the rating agency expects the company's credit profile to remain steady in the near term.

Regulatory Compliance

Reliance Industries communicated this rating reaffirmation to multiple stock exchanges as part of its regulatory obligations under Regulation 30. The company notified:

• BSE Limited
• National Stock Exchange of India Limited
• Luxembourg Stock Exchange
• Singapore Exchange Limited

Significance of Rating Reaffirmation

The reaffirmation of the IND AAA credit rating reflects India Ratings' continued confidence in Reliance Industries' strong financial position and ability to meet its debt obligations. This rating enables the company to access capital markets at competitive rates for its bank loan facilities and commercial paper programs.

The stable outlook suggests that the rating agency does not anticipate any significant changes to the company's credit profile in the immediate future, providing certainty to investors and lenders about the company's creditworthiness.

Reliance Industries has announced a significant corporate restructuring involving one of its step-down subsidiaries, marking a notable change in its retail portfolio structure. The development involves Abraham Thakore Private Limited (AT), a fashion-focused entity that was previously under the Reliance group's control.

Subsidiary Control Transfer Details

On December 19, 2025, Abraham Thakore Private Limited underwent a major ownership change that resulted in the company ceasing to be a subsidiary of Reliance Industries. The restructuring involved the issuance of equity rights to the company's founder shareholders, who are fashion designers.

Corporate Structure Impact

Abraham Thakore Private Limited was previously structured as a subsidiary of Reliance Retail Ventures Limited (RRVL), making it a step-down subsidiary of Reliance Industries. The equity rights issuance has fundamentally altered this relationship, with the founder shareholders now holding majority control through their 50.91% voting rights stake.

The transaction represents a strategic shift in the company's ownership structure, moving control from the Reliance group to the original fashion designer founders. This change effectively removes AT from Reliance Industries' subsidiary network.

Regulatory Compliance and Disclosure

Reliance Industries made the disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received intimation about the control transfer from RRVL at 06:17 p.m. IST on December 19, 2025.

The disclosure was communicated to both major Indian stock exchanges where Reliance Industries shares are listed, as well as international exchanges including the Luxembourg Stock Exchange and Singapore Exchange Limited, reflecting the company's global listing presence.

Business Implications

The control transfer of Abraham Thakore Private Limited marks a notable development in Reliance Industries' retail ecosystem. As a fashion-focused entity under founder control, AT will now operate independently of the Reliance group's direct oversight.

This restructuring demonstrates the dynamic nature of corporate ownership structures within large conglomerates and highlights the regulatory transparency requirements for such significant control transfers in publicly listed companies.