Reliance Cap buys RCom shares
Anil Ambani-led Reliance Capital today increased its stake in group firm Reliance Communications by picking additional 2.26 crore shares worth Rs 211 crore from another promoter group company.
Sonata Investments, a promoter group entity of Reliance Communications, sold 22,675,000 crore shares or about 1.1 per cent stake of RCOM, according to the block deal data available with the stock exchanges.
The group's financial services arm Reliance Capital purchased 22,675,000 shares of Reliance Communications held by Sonata Investments for Rs 93 apiece, valuing the deal to Rs 210.87 crore.
As of December quarter, Reliance Capital held 8,420,295 shares or 0.41 per cent stake in Reliance Communications, while Sonata Investments held 22,675,000 equities or 1.10 per cent ownership in the telecom firm.
Shares of Reliance Communications rose by 2.65 per cent to close at Rs 94.75 a piece on the BSE, while that of Reliance Capital grew by 2.78 per cent to end the trade at Rs 420 per share on the bourse.
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