Mukesh Ambani-led Reliance Industries Limited (RIL) has offered the shareholders of its subsidiary and unlisted unit Reliance Retail to swap their units with RIL shares. Reliance Retail shareholders will get one share of Reliance Industries (RIL) against four Reliance Retail shares. The swap ratio values RIL’s retail business at around Rs 2.5 lakh crore.
Mukesh Ambani, chairman and managing director of RIL had last August said that Reliance Retail would be listed by 2024. Reliance Retail has grown its revenue by 38% over the last five years and acquired 13% of organized retail market share.