Govt looks to sell shares of Reliance Industries held through SUUTI

The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it.

The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore.

The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official.

A final approval on the proposal is expected soon.