E-Commerce: Reliance Capital To Sell Yatra.Com Stake For 500 Cr

Among these, TV-18 group is now majority owned by Mukesh Ambani-led Reliance Industries group.

In the fast-growing Indian online travel business, Yatra.com competes with Nasdaq-listed MakeMyTrip, which commands a market value of $1.2 billion.

During the last fiscal 2013-14, MakeMyTrip is estimated to have clocked total transaction value of $1.38 billion on its platforms, as against $763 million by Yatra.

The operating income of MakeMyTrip and Yatra stood at $116 million and $51 million, respectively, for the year.

Reliance Capital recently announced its plans to focus on core business and is in the process of encashing its minority investments.

It also recently exited from day to day operations of its global film and media services business, by merging its global film and media services business with Prime Focus.

The deal created the world’s largest media services power house, with an order pipeline of 2,000 crore, over 5,500 employees and operations in the U.S., UK, Canada, China and Singapore, besides India.

Reliance MediaWorks and Prime Focus promoters infused fresh equity capital of 120 crore each into Prime Focus.

A number of international investors have recently pumped funds in Indian e-commerce or e-retail companies. These include Singapore’s state-owned investment company Temasek Holdings and asset management firm BlackRock along with other investors investing $ 100 million in Snapdeal. Besides, Japan’s SoftBank also invested $ 627 million in Snapdeal.

Flipkart has also received as much as $ 1 billion in fresh capital from investors.