Reliance Industries Limited may sell 8-10% stake in Reliance Retail Ventures Limited

Mukesh Ambani's RIIL intends to sell an additional 8–10% share in Reliance Retail Ventures Ltd. (RRVL) before the company's anticipated first public offering (IPO).

 

It would take 12 to 15 months to complete the stake sale. The selling of the stake will make it possible for RRVL to successfully go public in the future. The market is thought to be unable to handle the current valuation of $100 billion. The company is planning to sell stake to make its IPO size manageable.

 

Reliance Retail Ventures Limited (RRVL), a division of Reliance Industries Limited (Reliance Industries), will receive an investment of Rs 8,278 crores, according to a statement released on Thursday by the Qatar Investment Authority (QIA).

 

The investment will help the company secure a minority equity stake off 0.99% in RRVL. The investment will prove to be a giant infusion into India's largest retail giant, read a post on the official website of Qatar Investment Authority (QIA).

 

Source: Media Reports

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