Alok Industries sells entire 100% stake in Mileta A.S., which ceases to be a subsidiary

Alok Industries Limited, linked to Mukesh Ambani's Reliance group, has sold its entire stake in one of its subsidiaries. The deal was completed on October 9, 2026. With this, Mileta A.S. is no longer a subsidiary of Alok Industries, meaning the company holds no stake in it any longer.

The sale was carried out through Alok Industries International Limited, a wholly owned subsidiary of Alok Industries. In an exchange filing, the company announced the sale of the 100 per cent stake.

In the filing, the company said that Alok Industries International Limited, its wholly owned subsidiary, had informed it that it completed the sale of its 100 per cent equity stake in Mileta A.S. on October 9, 2026. As a result, Mileta A.S. is no longer a subsidiary of the company.

The company had disclosed the sale earlier. In an announcement dated December 16, 2025, Alok Industries had said it would sell its stake in Mileta A.S. That sale is now complete. With this decision, Alok Industries has crossed another strategic milestone in its business restructuring plans.

On the ownership of Alok Industries, the company has been under the joint ownership of Reliance Industries Limited and JM Financial Asset Reconstruction Company Limited since the insolvency resolution process was completed in 2019. Reliance Industries holds about 40.01 per cent, while JM Financial Asset Reconstruction Company Limited holds about 34.99 per cent.

Alok Industries International Limited cleared the way for the sale of Mileta A.S. as part of a larger strategy to streamline its operations and focus on its core businesses. The company aims to pool its resources by selling non-core assets and subsidiaries and to strengthen its position in the textile industry.