VLS Finance owns 10% of Relaxo Footwear (one-third of Relaxo’s floating stock) and overall it has an investment portfolio value exceeding Rs. 3,000 crore (including Relaxo). These being portfolio investments, not strategic investments - basically, VLS is not a promoter entity for Relaxo so there’s more flexibility to liquidate. Over the years, there has been gradual reduction of VLS’s holding in Relaxo to the current 10% levels.
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