Mukesh Ambani and family have increased their equity stakes in Reliance Industries Limited (RIL) after acquiring stocks from another promoter group. While India’s richest man has raised his holdings by 3.20%, the total shares with the promoter group remains unchanged at 47.45%. “We being the persons forming part of the promoter and promoter group of Reliance Industries Limited intend to acquire from one of the promoter group entity by way of inter-se transfer,” RIL informed stock exchanges in a stock exchange filing on Thursday. The promoters and two group companies namely Tattvam Enterprises LLP and Samarjit Enterprises LLP will acquire 3.20% shares of RIL from Devarshi Commercials LLP.
After the transaction, all the members of the Mukesh Ambani family will have equal shares in RIL. Billionaire Mukesh Ambani will have 0.12% holding in RIL or 75 lakh shares, up from 0.11%, or 72.3 lakh shares. Nita Ambani’s shareholding has also jumped to 75 lakh shares from the previous 67.96 lakh. Daughter Isha, and sons Akash and Anant Ambani will also have 75 lakh shares each now. Anant Ambani had the lowest share in the family until now at 2 lakh shares.
“The transaction is part of a restructuring of promoter group holding by inter-se transfer amongst the persons belonging to promoter and promoter group,” the filing said. Post the transaction, the shares of Devarshi Commercials LLP will come down to 8.01% from 11.21%.
On Friday, RIL shares were trading at Rs 948.45 apiece, gaining 3.35% from the previous close of Rs 917.70 on the BSE. As the spread of coronavirus has taken a toll on markets across the globe, the RIL shares have also lost in the last few days. RIL share price has eroded by over 37% so far this year; and about 42% from its 52-week high of Rs 1,617.55.
Meanwhile, Devarshi Commercials LLP, which was the single biggest shareholder among the promoter group firms before the transfer, no longer claims the single-biggest holding. Srichakra Commercials LLP has now become the biggest shareholder with 11.17% stake.