Shares in Reliance Capital rallied today following reports that the company was planning to sell its stake in Yatra.com. 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 Yatra.com for an estimated Rs 500 crore and is in talks with 2-3 international investors.
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.