Anil Ambani outlines group division

Anil Ambani, chairman of Anil Dhirubhai Ambani Enterprises (ADAE), today outlined the division of the Reliance empire.

Shareholders of Reliance will get about five shares in Reliance Capital and about seven shares in Reliance Energy for every 100 shares held, Anil Ambani said.

He added that Reliance shareholders would get 100 shares in an SPV called Reliance Communication Ventures, which will include Reliance Infocomm, Reliance Telecom and FLAG Telecom, for every 100 shares held in Reliance.

Reliance shareholders will also get shares in the ratio of 1:1 in Global Fuel - another SPV that will include gas contracts with Reliance.