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Our Bureau

Mumbai , Aug. 5

RELIANCE Industries Ltd (RIL) has informed the Bombay Stock Exchange that, under Regulation 3(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the company proposes to acquire 7,57,50,468 equity shares of a nominal value of Rs 10 each of Reliance Energy Ltd, constituting approximately 37.95 per cent of its paid-up share capital of Rs 199,61,80,270 from Reliance Power Ventures Ltd, a wholly owned subsidiary of the company by way of inter-se transfer.

The RIL scrip was down Rs 3.25 on Friday at Rs 725.75 while REL was up Rs 8.50 at Rs 647.15.

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