Reliance to sell 3.1% stake in Network18
Reliance Industries Ltd has confirmed it is planning to sell a 3.1 per cent stake in Network18 to comply with rules mandating public ownership in listed firms.
According to Economic Times, the stake worth $32 million would go on sales on Wednesday and would help it meet the minimum 25 per cent public ownership rule.
Reliance, controlled by billionaire Mukesh Ambani, bought a majority stake in the media group last year.