Anil Ambani's Reliance group on Wednesday announced Reliance Capital Ventures and Reliance Energy Ventures, two of the four companies acquired by him from elder brother Mukesh, would be merged with Reliance Capital Ltd and Reliance Energy Ltd, respectively.
The newly constituted boards of Reliance Capital Ventures and Reliance Energy Ventures on Wednesday approved their merger with flagship financial services company Reliance Capital and power entity Reliance Energy Ltd.
"The proposed scheme of amalgamation envisages a share exchange ratio of five equity shares of RCL for every 100 shares of RCVL," Reliance-ADAG said in a statement.
Similarly, the exchange ratio of 7.5 equity shares of REL for every 100 shares of REVL has been fixed, it said.
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