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| Reliance Power, RCom restructure promoter holdings | |
| Press Trust of India / Mumbai June 29, 2009, 18:05 IST | |
Anil Ambani group firms — Reliance Communications (RCom) and Reliance Power — today restructured their respective promoter holdings through transfer of shares among group companies.
In a disclosure to the Bombay Stock Exchange, RCom said one of its promoters AAA Communication has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries and ADA Enterprises and Venture.
AAA Communication holds 1,308,110,172 shares, or 63.38 per cent stake in RCom as on March 31, 2009.
In another disclosure, Reliance Power said its promoter AAA Project Ventures has transferred over 8.19 crore shares or 3.42 per cent stake to each of Reliance Enterprises and Ventures and AAA International Capital.
Pursuant to the share transfer between the promoters, AAA Project Ventures now holds over 954,498,000 shares or 39.82 per cent stake in Reliance Power.
As of March quarter, the entire promoter group held 84.78 per cent in Reliance Power and 67.34 per cent stake in RCom.
"The aggregate shareholding of the acquirers and the PACs, before and after the above transfer remains unchanged," the disclosure said.
Shares of Reliance Power closed 0.63 per cent up at Rs 174.55 and RCom ended down 1.76 per cent at Rs 306.75 on the Bombay Stock Exchange.
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