 "RIL shares worth Rs 50,000 cr change hands in block deals")
The inter-se transfers of shares have not resulted in any change in overall promoter group shareholding in Reliance Industries Ltd (RIL).
According to block deal data available on the BSE on Wednesday, Badri Commercials, Bhuvanesh Enterprises, Ajitesh Enterprises sold a total of 3,88,700,109 shares, amounting to 11.98 per cent stake, of RIL.
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The shares were bought by Tattvam Enterprises and Karuna Commercials.
The stock was transferred on an average price of Rs 1,284 per unit, valuing the transaction at Rs 49,906.36 crore, the data showed.
Its shares closed at Rs 1,304.40 on the BSE, up 1.16 per cent from the previous close. During the intra-day trade, the stock had hit a high of Rs 1,316 and a low of Rs 1,283.25.
Last week, four promoter entities of RIL transferred over 39.6 crore shares, or 12.21 per cent stake, of the company to two others in transactions worth nearly Rs 51,000 crore.
RIL on March 2 had announced that as many as 15 promoter group entities of the company will transfer 118.99 crore shares to eight other promoter group entities at Rs 1,100.78 per share.
These shares constitute 36.7 per cent of the share capital or 38.74 per cent of voting rights.
At present in RIL, there are 63 promoter group entities and individuals, including Chairman Mukesh Ambani, wife Nita Ambani and children Akash, Anant and Isha.
Mukesh Ambani and his immediate family is not a beneficiary of this current transfer.
While Mukesh Ambani holds 36.15 lakh shares directly in RIL, his wife Nita holds 33.98 lakh shares. Their children Akash and Isha hold 33.63 lakh shares each, whereas Anant holds 1 lakh shares.
Overall, promoters held 46.48 per cent stake in RIL as on December 31, 2016.