Moving quickly towards listing of the four new entities he got on Tuesday from elder brother Mukesh, younger sibling Anil on Wednesday decided to start putting the companies one by one on the bourses from the week beginning February 13.
Reliance Capital Ventures would be the first company to be listed in the week beginning February 13, followed by Reliance Energy Ventures, Reliance Natural Resources Ltd and Reliance Communication Ventures every subsequent week.
The listing of these new companies was one of the contentious issues between the two sides, with Mukesh group wanting a simultaneous listing as against a staggered listing preferred by the Anil Ambani camp.
The two sides had also blamed each other for the delay in transfer of shares from Mukesh group-promoted companies in the four new entities to ADAG, which also questioned the other side on proprietary of their move to list these companies.
Earlier, Reliance Industries informed the stock exchanges that with the transfer of ownership and management control being completed, the onus of listing the companies now rested with ADAG.
"The reconstituted boards, under the control of Anil, are now expected to take the remaining procedural steps for listing the shares of the companies and the exchanges have been accordingly notified," RIL said.
Listing of these companies can be processed once the certified true copy of the final information memoranda, duly approved by the Board is submitted and the provision of clause 49 of the listing agreement is complied with, RIL said.
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