Reliance Infrastructure's board today approved the merger of its two wholly owned subsidiaries--Western Region Transmission Gujarat and Western Region Transmission Maharashtra, with itself.
This merger is subject to requisite approvals.
Both these companies combined are building power transmission lines of around 1,600 kilometers. While Gujarat has three lines under it, Maharashtra has six lines. “Out of the nine lines, seven of them are already operational,” Reliance Infra said in a results press release, last month.
The company's stock fell 1.2% in today's trade to close at Rs 425, as per data available on the Bombay Stock Exchange.
