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2014-12-11

Reliance Capital to dilute Yatra.com stake for Rs 500 cr

The transaction is likely to be closed in 4-6 weeks.

Reliance Capital has said it will dilute 16 per cent of its stake in leading travel portal Yatra.com worth Rs 500 crore, according to a PTI report.

The transaction is likely to be closed in 4-6 weeks. Following the deal, the value of Yatra.com would be around around $500 million or Rs 3,000 crore.

Reliance Capital, the financial services arm of Anil Ambani-led business conglomerate Reliance Group has
bought a 16 per cent stake in Yatra.com for Rs 40 crore in 2006.

The existing investors in Yatra.com are film star Salman Khan (brand ambassadors), Norwest Venture Partners, TV-18 group, Intel Capital and Valliant Capital.

"Reliance Cap is in talks with 2-3 leading international investors to sell this 16 per cent stake for an estimated $80 million (about Rs 500 crore),” sources told PTI.

A Reliance Capital spokesperson told PTI, “We continuously evaluate opportunities to unlock the value of our minority investments to enhance shareholders value.”
 

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