BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.

The BSES board, on Saturday, unanimously appointed Ambani, vice chairman and managing director of Reliance Industries Ltd, and Satish Seth, an existing Reliance nominee on the board, has been designated as vice-chairman, a Reliance release said in Mumbai.

Two more Reliance nominees, S C Gupta, former BSES director and J P Chalasani, a director of BSES Infrastructure
Finance Ltd and chief executive of two power distribution companies of BSES in New Delhi, have been appointed as whole time directors.

Reliance is already the single largest shareholder with over 44 per cent stake in BSES. Reliance made an offer, which
opened on friday, to buy additional 20 per cent stake in the power utility. 

The existing shareholding pattern of the company is Reliance 44.12 per cent, domestic financial and investment instituions 36.29 per cent, GDRs 1.94 per cent, FIIs/NRIs/Overseas Corporate Bodies 4.27 per cent, domestic banks/mutual funds 0.66 per cent and the balance 12.72 per cent by over 140,000 retail investors.