RIL may sell 8-10% more in Rel Retail ventures to fund expansion

Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate’s retail business, two senior industry executives aware of the plans said.

This process will likely happen in tranches over 12-15 months and will be critical for the proposed IPO by the holding company of Reliance’s retail operations, the executives said.