Board of Reliance Capital approves proposal to allot shares to Sumitomo Mitsui Trust Bank

At meeting held on 25 December 2014

Reliance Capital announced that the Board of Directors of the Company at its meeting held on 25 December 2014, has approved a proposal to issue and allot 70,00,000 Equity Shares of face value of Rs.10 each at a premium of Rs.530 per share, aggregating to Rs.371 crore to Sumitomo Mitsui Trust Bank (SMTB) (Preferential Allotment), subject to necessary permissions, sanctions, approvals and applicable SEBI Regulations and other provisions of law and which is subject to approval of the Members of the Company.

The Board has also proposed to conduct an Extraordinary General Meeting of the Members of the Company on 23 January 2015 to consider the Preferential Allotment of Equity Shares under Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (SEBI ICDR Regulations) and Section 62 and Section 42 of the Companies Act, 2013 and Rules made there under and other applicable provisions of the law.

The Relevant Date for the Preferential Allotment of Equity Shares in terms of Regulation 71 of the SEBI ICDR Regulations is 23 December 2014 and accordingly, the floor price in respect of the said Preferential Allotment, based on the pricing formula as prescribed under Regulation 76 of the SEBI ICDR Regulations, has been rounded off at Rs.530 per Equity Share.

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