RIL hikes stake in REL to 45.55%

As part of ongoing de-merger of Reliance group companies following settlement of ownership between two Ambani brothers, Mukesh Ambani-owned Reliance Industries Ltd has acquired 37.95 per cent stake in Reliance Energy, owned by the younger brother.

The total deal, which has increased RIL's stake in REL to 45.55 per cent, was proposed for a consideration of over Rs 2,662 crore (Rs 26.62 billion).

The acquisition was proposed to be at the rate of Rs 351.69 a share of Rs 10 each.

RIL has purchased over 7.57 crore (75.7 million) equity shares in REL from its wholly-owned subsidiary Reliance Power Ventures Ltd, the Mukesh Ambani-owned company told National Stock Exchange.