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 to dilute Yatra.com stake for Rs 500 cr

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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