Reliance to buy 87.6% stake in Indian fashion marketplace Fynd

The Reliance Industries Ltd. logo is displayed atop the company's gas station in Mumbai, India, on Thursday, July 19, 2012. Photographer: Dhiraj Singh/

Indian energy and telecoms conglomerate Reliance Industries Ltd will acquire an 87.6% stake in Shopsense Retail Technologies, also known as Fynd, for 2.95 billion Indian rupees ($42.33 million), it said in a statement.

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