Reliance Retail to buy back shares for ₹1,362, become 100% promoter-owned

Reliance Industries Ltd's (RIL) arm Reliance Retail said it will reduce the equity share capital which is held by shareholders other than its promoter and holding company, Reliance Retail Ventures Ltd. The capital reduction plan will make Reliance Retail a 100% subsidiary of RRVL. The company will pay ₹1,362/share towards the capital reduction, it said in an exchange filing.