RIL close to buying stake in home fashion brand Portico

Reliance Industries is close to buying a substantial stake in home fashion brand Portico. If the deal goes through, Portico could be integrated with Alok Industries. Portico is a brand owned by the Creative Group that manufactures and sells bed and bath products through its own stores as well as other online and offline retailers. In February last year, Reliance had said it would acquire a 37.7% stake in Alok Industries for INR 250 crore.