Reliance Retail, on Friday, announced the reduction of its equity share capital to the extent held by shareholders other than its promoters and holding company. However, the move didn’t sit right with share market investors, who are venting their anger and disappointment against this move on social media.

Soon after the decision, investors expressed their disappointment via Twitter against the move. Many users claimed the company was “looting the retail investors”.

The board of Reliance Retail approved the decision on July 4. The company said that the capital reduction plan would make Reliance Retail a 100% subsidiary of Reliance Retail Ventures Limited (RRVL) and help restructure the business efficiently.

RRVL, the promoter and the holding company of Reliance Retail holds 99.91% of the company’s share capital.