Reliance Energy renamed Reliance Infrastructure Ltd
28 Apr 2008
Mumbai: Reliance Energy Ltd has informed BSE that it has changed the name of the company from "Reliance Energy Ltd" to "Reliance Infrastructure Ltd" with effect from April 28, 2008.
Reliance Energy received the certificate from the Registrar of Companies, Maharashtra registering the change in name.
The name change is ostensibly to better reflect the infrastructure involvement of the company, as opposed to a more limited 'energy' commitment.
The company says it has been engaged in a number of projects under implementation or consideration in the field of not just power generation, transmission and distribution businesses, but also in several other infrastructural projects such as highways, roads, bridges, metro rail and other mass rapid transit systems, airports, special economic zones, real estate, etc.
The new name "Reliance Infrastructure Ltd", according to the company, appropriately reflects the current nature of businesses, and its new identity redefines the company's vision and focus to emerge as a premier infrastructure company.
The name change also consigns to the history books, the fiasco of an IPO over subscribed in under a minute, which listed below issue price, and resulted in substantial losses to shareholders in terms of value. Reliance Energy's board then approved a 25 per cent share buyback as countermeasures.
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