New Year gift for RIL investors

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Last updated on: December 22, 2005 18:46 IST

In a New Year bonanza for its nearly three million shareholders, Reliance Industries will offer them shares of four Anil Ambani group companies on January 25.

RIL on Thursday communicated to the bourses that it has fixed the 'record date' for the demerger scheme on January 25.

Though the demerger scheme became effective yesterday and the company filed the certified copy of Bombay High Court order with the Registrar of Companies, RIL investors were eagerly awaiting the announcement of the 'record date' from when they would be entitled to the shares of four ADAE group companies.

With today's announcement, it is now clear that RIL investors would be entitled to shares of demerged entities - Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance Communication Ventures Ltd.

Mukesh Ambani had already promised RIL shareholders that they would get equal number of shares of Anil Ambani's companies.

"All shareholders of RIL, except the specified shareholders, would be issued shares of demerged undertakings in 1:1 ratio," RIL had announced in August after its board meeting chaired by the elder Ambani sibling Mukesh.

Anil Ambani had also made his intentions clear in listing all the four entities that came under his fold.

The demerger scheme follows an amicable settlement between the two brothers on ownership of various companies under the Rs 1,00,000 crore (Rs 1000 billion) Ambani empire built by late Dhirubhai Ambani.

While Mukesh got control of the flagship company RIL along with IPCL, Anil had to be content with Reliance Infocomm, Reliance Energy and Reliance Capital.

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