Millennium Post

Reliance Cap to sell stake in Yatra.com

Looking to cash in on e-commerce boom, Reliance Capital is all set to sell its 16 per cent stake in leading travel portal Yatra.com for an estimated Rs 500 crore and is in talks with 2-3 international investors.

The deal would mark an over 12-times appreciation for this investment by Reliance Capital, the financial services arm of Anil Ambani-led business conglomerate Reliance Group, which had acquired a 16 per cent stake in the online travel company for Rs 40 crore in 2006. Sources said that 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). The identity of the interested buyers could not be ascertained.
When contacted, a Reliance Capital spokesperson said: "We continuously evaluate opportunities to unlock the value of our minority investments to enhance shareholders value."

While the spokesperson did not give any further details, sources said that Reliance Cap aims to close the transaction in 4-6 weeks and the deal would put the total valuation of Yatra.com at around $500 million or about Rs 3,000 crore.

Other existing investors in Yatra.com, which has film star Salman Khan as one of its brand ambassadors, include Norwest Venture Partners (30 per cent), TV-18 group (10 per cent), Intel Cap (7 per cent) and Valliant Capital (10 per cent).
PTI

PTI

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