(LiveMint)
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. As per the proposed arrangement, Reliance Retail shareholders will get one share of RIL against four Reliance Retail shares. Reliance Retail shares are not listed on any stock exchanges.
“The company had implemented two schemes namely Reliance Retail Employees’ Restricted Stock Unit Plan 2006 and 2007 under which Restricted Stock Units (“RSUs”) have been allotted to eligible employees. On exercise of the RSUs by some of the employees, equity shares have been allotted to them,” RIL said on its website. RIL added it has received requests from Reliance Retail employees holding equity shares for providing them options to exit and liquidate their holdings, including by way of a listing of the equity shares.
