Reliance Industries Ltd shares worth Rs 50,000 crore change hands on BSE
Reliance Industries shares worth over Rs 50,000 crore changed hands on the BSE today, days after the company announced major shareholding rejig among its promoter group entities.
As per the BSE website, the total traded shares were about Rs 51,000 crore till mid session, much higher than the average trade value of the stock.
Nearly 40 crore shares were traded as against the 2-week average quantity of less than 11 lakh.
The stock closed at Rs 1,287.35 on the BSE, down 0.35 % from the previous close. During the intra-day trading session, the stock had hit a low of Rs 1,281.70 and touched a high of Rs 1,298. It had opened at Rs 1,289.80.
Reliance Industries Ltd (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 proposed inter-se transfers would not result in any change in promoter group shareholding of 45.24 % in RIL.
The shares being transfered constitute 36.7 % of the share capital or 38.74 % of voting rights.
Presently, 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 % 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, while Akash holds 1 lakh shares.
The 15 entities transferring their stake are Abhayaprada Enterprises, Taran Enterprises, Trilokesh Commercials, Adisesh Enterprises, Bhuvanesh Enterprises, Ajitesh Enterprises, Badri Commercials, Pitambar
Enterprises, Rishikesh Enterprises, Kankhal Trading, Pavana Enterprises, Kamalakar Enterprises, Narahari Enterprises, Shreejai ZComtrade and Shrikrishna Tradecom.
The beneficiary entities are Devarshi Commercials, Karuna Commercial, Tattvam Enterprises, Srichakra Commercials, Svar Enteprises, Vasuprada Enterprises, Shreeji Comtrade and Shrikrishna Tradecom.