M&A

M&A

RIL Group to buyout residual 0.09% stake in Reliance Retail from public shareholders

Economic Times  

Reliance Retail's board has approved a proposal to cancel the equity shares held by public shareholders. RRVL, a 85% subsidiary of RIL, holds a 99.91% stake in Reliance Retail, while the public holds 7,865,423 equity shares, representing 0.09%. The company will pay INR 1,362 per share for the cancelled unlisted stock. The fair value of Reliance Retail, as determined by two independent valuers Ernst & Young Merchant Banking Services and BDO Valuation Advisory, is INR 884.03 and INR 849.08 a share, respectively.