 "RIL promoter entities propose re-structure of 119 crore shares")
As many as 15 promoter group entities of Reliance Industries (RIL) will transfer their 1.2 billion shares to eight other promoter group entities.
The proposed inter-se transfers will not result in any change in promoter group shareholding of 45.24 per cent in RIL.
A stock exchange filing said 15 promoter group entities will transfer 118.99 crore shares to eight other promoter group entities at Rs 1,100.78 a share.
The shares being transferred constitute 36.7 per cent of the share capital or 38.74 per cent of voting rights.
At present, there are 63 promoter group entities and individuals, including Chairman Mukesh Ambani, wife Nita Ambani and children Akash, Anant and Isha, who hold 1.46 billion shares or 45.24 per cent of RIL.
"The proposed transfers are only amongst the existing promoter group entities," the filing said.
Mukesh Ambani and his immediate family are not beneficiaries of the transfer.
The 15 entities transferring their stake include Abhayaprada Enterprises, Taran Enterprises, Trilokesh Commercials, Adisesh Enterprises, Bhuvanesh Enterprises, Ajitesh Enterprises, Badri Commercials, Pitambar Enterprises, Rishikesh Enterprises, Kankhal Trading, Pavana Enterprises, Kamalakar Enterprises, Narahari Enterprises, Shreejai Comtrade and Shrikrishna Tradecom.
The beneficiary entities are Devarshi Commercials, Karuna Commercial, Tattvam Enterprises, Srichakra Commercials, Svar Enteprises, Vasuprada Enterprises, Shreeji Comtrade and Shrikrishna Tradecom.
"The promoter group entities of RIL propose to re- structure their shareholding in RIL by inter-se transfer of shares among the promoter group entities and have made the necessary disclosures in this regard today. The proposed inter-se transfers will not result in any change in promoter group shareholding in RIL," a spokesperson of the promoter group said.
