RIIL has no plans to merge with RIL, says company official

Reliance Industrial Infrastructure (RIIL), a Reliance Group Company, has no plans to merge with Reliance Industries Ltd, a senior company official said today.

Reliance Industries holds a 45.43 per cent stake in Reliance Industrial Infra.

"We have no plans to merge with Reliance Industries," Reliance Industrial Infra's Director, S C Malhotra, told shareholders at the 21st annual general meeting held here.

Malhotra was responding to several shareholders' query whether there is a possibility that the company would be merged with Reliance Industries.

Apart from RIL, Reliance Capital holds 1.06 per cent stake in Reliance Industrial Infra. Among other shareholders, Religare Securities holds 0.52 per cent, Angel Broking 0.34 per cent, Sharekhan 0.33 per cent and Karvy Stock Broking 0.29 per cent stake.

Reliance Industrial Infrastructure is mainly engaged in the business of setting up and operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.

RIIL Chairman, Mahesh Kamdar, said the future outlook of the company is good.