Reliance Industries promoters group plans to restructure its stake holding among promoter entities, without changing the total promoter group holding in the company, the company notified the bourses on Thursday.
Eight promoter group companies will acquire around 119 crore shares in the company, representing 36.70 per cent stake, from 15 other promoter group companies in an inter se transfer. The transaction will be priced at Rs 1,100.78 a share. Shares of the company closed at Rs 1,233.25 on BSE on Thursday, almost flat from the previous close.
“The promoter group entities of RIL propose to restructure their shareholding in RIL by inter se transfer of shares among the promoter group entities and have made the necessary disclosures in this regard on Thursday. The proposed inter se transfers will not result in any change in promoter group shareholding in RIL,” a spokesperson from RIL’s promoter group said in an email response.
According to the disclosure from the promoters to the stock exchanges, 58 promoter group entities together held 45.15 per cent stake in RIL as on March 2016. Read more
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