Reliance Retail offloads RPPMSL to Jaipur Enclave for ₹274 cr via mirrored OFCD route
Reliance Retail Ventures sold step-down unit RPPMSL to Jaipur Enclave for ₹274 crore, while RIL channelled an identical ₹273.75 crore through three group entities via OFCDs. The circular structure — against RPPMSL's ₹9,323 cr FY25 revenue and ₹379 cr profit — raises related-party transaction questions under Sebi LODR.
What happened
Reliance Retail sold step-down subsidiary RPPMSL to Jaipur Enclave for ₹274 crore, with RIL routing identical funds via OFCDs through three group entities,
Key facts
- ₹274 crore sale consideration
- ₹273.75 crore OFCDs
- ₹1,300.2 crore RIL investment
- ₹9,323 crore RPPMSL FY25 revenue
- ₹379 crore RPPMSL profit
- ₹18 trillion RIL m-cap
- 4.76% residual stake
Why this matters
OFCD-mirrored intra-group transfers are emerging as a balance-sheet reshuffling playbook at Reliance — useful precedent for structuring carve-outs without external capital, but with rising governance optics risk.
Also reported by
- Mint · Companies — Same time