Reliance Capital Rallies on Yatra Stake Sale

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Shares in Reliance Capital rallied today following reports that the company was planning to sell its stake in The shares in the company rallied as much as 3.52 per cent.

    Accrdino PTI reports that company was looking to cash in on e-commerce boom, and was all set to sell its 16 per cent stake in leading travel portal for an estimated Rs 500 crore and is in talks with 2-3 international investors.

    Reliance Capital Rallies on Yatra Stake Sale
    Reliance Capital: Quotes, News
    BSE 210.15BSE Quote7.45 (-3.55%)
    NSE 210.05NSE Quote7.6 (-3.62%)

    The deal would mark an over 12-times appreciation for this investment by Reliance Capital, the financial services arm of Anil Ambani-led business conglomerate Reliance Group, which had acquired a 16 per cent stake in the online travel company for Rs 40 crore in 2006.

    Sources said that Reliance Cap is in talks with 2-3 leading international investors to sell this 16 per cent stake for an estimated USD 80 million (about Rs 500 crore). The identity of the interested buyers could not be ascertained.

    Read more about: reliance capital
    Story first published: Wednesday, December 10, 2014, 13:58 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more