Reliance Industries' over 10% shares exchange hands via block deal

Nearly 396 million shares representing 12.58% of total equity capital of RIL changed hands on BSE

Reliance Industries' (RIL) nearly 396 million equity shares representing 12.58% equity of total paid up capital changed hands on BSE through block deal in early morning trade.

RIL on March 2, 2017 had informed the stock exchanges that entities forming part of the promoter group of the company intend to acquire from other promoter group entities by way of ‘inter-se’ transfer aggregating up to 1,190 million shares of RIL

“The shares being transferred constitute 36.7% of the share capital or 38.74% of voting rights. The proposed transfers are only amongst the existing promoter group entities," the filing said. CLICK HERE TO READ FULL REPORT.

At 11:35 am; the stock was trading nearly 1% down at Rs 1,285 after hitting low of Rs 1,282 in intra-day trade. It opened at Rs 1,290 and touched high of Rs 1,298 so far.

The trading volumes on the counter jumped by 367 times with total equity shares worth of Rs 50,887 crore changed hands, the BSE data shows.