Asia's largest Dhankuber Mukesh Ambani-controlled Reliance Retail is valued at $ 34 billion, or about Rs 2.40 lakh crore. This value of the company is estimated under a proposed scheme of exchange of shares for the shareholders of the company. According to the information given on the company's website, shareholders of Reliance Retail will get one share of Reliance Industries for every four shares. <! –
Reliance Industries shares closed at Rs 1,515.95 on the BSE on Thursday. Accordingly, its market capitalization was Rs 9.6 lakh crore. Reliance Retail Ltd, an unlisted entity of Reliance Retail Ventures, is an indirect subsidiary arm of Reliance Industries Limited. Reliance Retail has a network of 10,901 stores and sold Rs 1.3 lakh crore worth last year.
Reliance Retail Ventures holds 99.95 per cent stake in Reliance Retail. The remaining 0.05 per cent stake is with the employees of the company. Reliance Retail said that in 2006 and 2007, it gave employees the option of shares. The employees of the company had been requesting for some time that they be given the option to sell the shares.
Employees were insisting that Reliance Retail could also be listed on the stock exchanges for this. As the company is not planning to get listed yet, it has decided to give shares of listed company Reliance Industries to the employees through exchange of shares.
The company said that after this decision, a meeting of equity shareholders of Reliance Retail Limited is going to be held on 23 January. The company's proposal is expected to be considered in this meeting. Let us tell you that at the end of the second quarter of the current financial year, Reliance Industries had reported that during the period, the revenue of Reliance Retail has registered a 27 percent increase.