Reliance allots shares to IPCL shareholders

Reliance Industries today alloted 6,01,40,560 shares to the shareholders of the erstwhile Indian Petrochemicals Corporation (IPCL) as on record date October 12, 2007.

According to a release issued by Reliance to the BSE today, the allotment is as per the scheme of amalgamation of IPCL with the company in the ratio of one equity share of RIL for every five shares of IPCL.