RCVL-RCL and REVL-REL mergers announced
By Our Corporate Bureau | 08 Feb 2006
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Mumbai: The newly-constituted boards of Reliance Capital Ventures and Reliance Energy Ventures today approved their merger with Anil Ambani's flagship financial services company Reliance Capital and power entity Reliance Energy Ltd.
The control of Reliance Capital Ventures and Reliance Energy Ventures were handed over to Anil Ambani's Reliance Group yesterday.
The proposed scheme of amalgamation envisages a share exchange ratio of five equity shares of RCL for every 100 shares of RCVL and a similar exchange of 7.5 equity shares of REL for every 100 shares of REVL.
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