RRVL likely to divest only 10-15% stake

Published On: Wednesday, October 7, 2020 | By: Team KnowMyStock

Reliance Retail Ventures (RRVL) is expected to divest only a small stake of 10-15 percent in its retail holding company, the proceeds of which will be used to fund acquisitions such as the retail and wholesale business of Future Group and others. As part of its initial and ongoing fund-raising exercise, RRVL has already divested an 8.48 percent stake to a bevy of private equity funds for Rs 37,710 crore. The 10-15-per cent divestment, say sources, will not include strategic investors but only private equity (PE) and sovereign funds. The strategy, according to these sources, is clearly different from the massive fund-raising exercise it undertook in Jio Platforms, where it sold 32.97 percent stake to a clutch of 13 investors for Rs 152,055 crore.

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