Reliance Industries Shares Worth Rs 50,000 Crore Change Hands

New Delhi: In yet another major shareholding rejig at Reliance Industries, five of its promoter entities transferred 38.48 crore shares to two others in transactions worth nearly Rs 50,000 crore.

The inter-se transfers of shares has not resulted in any change in overall promoter group shareholding in Reliance Industries Limited (RIL).

According to bulk deal data available on the Bombay Stock Exchange or BSE, Kankhal Trading, Adisesh Enterprises, Pitambar Enterprises, Rishikesh Enterprises and Pavana Enterprises sold a total of 38,48,60,747 shares of RIL.

The shares were bought by Srichakra Commercials and Tattvam Enterprises.

The scrips were transferred on an average price of Rs 1,294.8 apiece, valuing the transaction at Rs 49,827.71 crore, data showed.

The stock closed at Rs 1,280.35 on the BSE, down 1.56 per cent from the previous close. Intraday, the stock had hit a high of Rs 1,305 and a low of Rs 1277.15. It had opened at Rs 1,301.

RIL on March 2 announced that as many as 15 promoter group entities of the company will transfer 118.99 crore shares to eight other promoter group entities at Rs 1,100.78 per share.

The shares being transferred constitute 36.7 per cent of the share capital or 38.74 per cent of voting rights.

Currently, there are 63 promoter group entities and individuals, including chairman Mukesh Ambani, wife Nita Ambani and children Akash, Anant and Isha, who hold 146.39 crore shares or 45.24 per cent of RIL.

Mukesh Ambani and his immediate family is not a beneficiary of the transfer.

While Mukesh Ambani holds 36.15 lakh shares directly in RIL, his wife Nita holds 33.98 lakh shares. Their children Akash and Isha hold 33.63 lakh shares each, whereas Anant holds 1 lakh shares.