Anil Ambani-led Reliance Power today said it has concluded the allotment of equity shares to shareholders of group company Reliance Natural Resources Ltd (RNRL), as per their merger agreement.
RPower allotted equity shares to shareholders of RNRL in accordance with the composite scheme of arrangement, the company said in a statement.
According to the scheme of arrangement, RPower has alloted one equity share of Rs 10 face value in exchange for four RNRL equity shares of Rs 5 face value each.
The move comes after the Bombay High Court last month approved the merger of both entities.
The share exchange ratio was based on the recommendations of leading international consulting firm, KPMG.
RNRL has become a wholly-owned subsidiary of RPower and its shares ceased to be tradable on the stock markets with effect from November 9, 2010.
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