RInfra pledges its shares in RPower

Reliance Infrastructure and other promoters today pledged as much as 6.68% of stake in group company, Reliance Power.

RInfra has 40% stake in RPower, which was de-merged from the former entity called Reliance Energy in 2007. RPower was subsequently listed on the bourses. Reliance Infrastructure is one of the promoters of the company.

The other entities of the promoter group that were a part of the pledge includes AAA Project Ventures, AAA International Capital, Reliance Enterprise and Ventures. Individually, Anil Ambani, Tina Ambani, Kokilaben Ambani and their son Jaianmol too who hold stake in the company, had participated in the pledge.

The pledge for 18.75 crore shares was created in favour of IDBI Trusteeship Services, the company said in an intimation to the stock  exchanges. The total market capitalisation of Reliance Power is at Rs 18,093 crore.

The shares of Reliance Power traded flat today as it went up by 0.6% to close at Rs 64.5. The stock of Reliance Infrastructure went up by 0.3% to close at Rs 408.