RIL proposes share swap scheme for Reliance Retail shareholders

Reliance Industries has proposed allowing shareholders of the unlisted Reliance Retail to exchange their shares for RIL shares. Under the proposed arrangement, Reliance Retail shareholders will get one share of RIL in exchange for four shares of Reliance Retail, according to RIL website. Reliance Retail is a subsidiary of Reliance Retail Ventures Limited and an indirect subsidiary of Reliance Industries Limited.

The swap ratio values the retail business of RIL at about ₹2.5 lakh crore. Reliance Industries shares were flat at ₹1544.65 apiece in early trade today, giving the company a market cap of about ₹9.8 lakh crore.