RIL, company controlled by Mukesh Ambani, Asia’s richest person, is in discussions with banks for a potential sale of its 4.9% stake in Asian Paints Ltd.
through a series of block trade Reliance Industries Ltd. is considering selling its stake in India’s largest paint maker valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter.
The company controlled by Mukesh Ambani, Asia’s richest person, is in discussions with banks for a potential sale of its 4.9% stake in Asian Paints Ltd.
through a series of block trades, the people said, asking not to be identified as the information is not public. Reliance holds the stake through Teesta Retail Pvt.