Morning buzz: RIL may sell 8-10 percent in Reliance Retail, RBI to keep a close eye on excess liquidity, and more
Here are the top business headlines this morning, to get your day started
RIL is likely to sell another 8-10 percent of Reliance Retail Ventures over the next 12-15 months to retire debt, fund expansion and make way for the initial public offering (IPO).
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RIL may sell 8-10 percent in Reliance Retail
RIL is likely to sell another 8-10 percent of Reliance Retail Ventures over the next 12-15 months to retire debt, fund expansion and make way for the initial public offering (IPO).As per the latest deal by the Qatar Investment Authority, the company is valued at $100 billion. As per listing rules the promoters have to list a minimum of 25 percent and the market may not have the liquidity to absorb such a large IPO. Prior to the IPO, the company may divest more of Reliance Retail to meet the minimum listing rules.
(Economic Times)
RBI to keep a close eye on excess liquidity
The Reserve Bank of India (RBI) minutes showed that while it is willing to look past transitory inflation pressures, it plans to keep a close eye on the excess liquidity in the system on account of the withdrawal of Rs 2,000 notes. Lastly, the minutes hinted the central bank would not hesitate to hike rates if inflation expectations became entrenched.(Economic Times, Business Standard)
