RIL’s 12% shares worth Rs51,000 crore change hands in block deals

In a major rejig among promoter shareholding As many as four promoter entities of Reliance industries have traded more than 12 per cent of the stake of Reliance, in transactions worth nearly Rs51,000 crore on Thursday.

In a major rejig of shareholding of among Reliance Industries' promoter entities, four major shareholders have transferred over 396 million shares of the company to two others in transactions worth nearly Rs51,000 crore.

According to data available with BSE, Adisesh Enterprises, Trilokesh Commercials, Abhayaprada Enterprises and Taran Enterprises sold 39,6,085,888 shares amounting to 12.21 per cent stake of RIL.

The inter-se transfer of shares to Devarshi Commercials and Tattvam Enterprises at a price of Rs1,284 per share, aggregating to a total transaction value of Rs50,858.84 crore, has not resulted in any change in overall promoter group shareholding in Reliance Industries Ltd (RIL).

Last week, Reliance Industries announced that 15 promoter group entities would be transferring 1189.9 million shares to eight other promoter group entities.

This would be done at Rs1,100.78 per share, the company stated. The shares that are being transferred are a total of 36.7 per cent of the share capital. Mukesh Ambani or his immediate family is not a beneficiary of the transfer.

The restructuring will not change the promoter stake in India's largest company by revenue; around 1.2 billion shares held by 15 entities are being transferred to eight others.

Following the transaction, the stock closed at 1,287.35 down by 0.35 per cent from the previous close. It had opened at Rs1,289.80. There are 63 promoter group entities and individuals associated with RIL, including chairman Mukesh Ambani, Nita Ambani and their three children who hold 1463.9 million shares adding up to 45.24 per cent of RIL.

As per available data, Mukesh Ambani holds 3.62 million shares directly in RIL and Nita Ambani 3.39 million shares.