The Hindu Business Line : Reliance fixes Jan 25 as record date for demerger scheme — `Resulting cos' to issue shares to RIL shareholders

RELIANCE Industries Ltd (RIL) has fixed January 25 as the record date for verifying entitlement of its shareholders to receive shares in each of the four demerged companies, also called `resulting companies'.

As per the scheme of arrangement approved by a Bombay High Court order on December 9, the coal-based energy undertaking, the gas-based energy undertaking, the financial services undertaking and the telecommunications undertaking of RIL have been demerged into each of the resulting companies.

RIL, on Thursday, informed BSE that each of the `resulting companies' - Reliance Energy Ventures Ltd, Global Fuel Management Services Ltd, Reliance Capital Ventures Ltd and Reliance Communication Ventures Ltd - will issue and allot to each eligible member of RIL, whose name is recorded in the register of members of the company on the record date, equity shares in the respective resulting companies. The exception would be there only in the case of specified shareholders as defined in the scheme.

As per the demerger scheme, such member or his heirs, executors, administrators or successors holding one share in RIL will be allotted one share of Reliance Energy Ventures Ltd of the face value of Rs 10 each credited as fully paid up for every one share of Rs 10 each fully paid-up. Similarly, the RIL shareholder will be issued one share of Global Fuel Management Services Ltd of the face value of Rs 5 each credited as fully paid up for every one share of Rs 10 each fully paid-up.

In the case of Reliance Capital Ventures Ltd, it will be one share of the face value of Rs 10 each credited as fully paid up getting issued for every one share of Rs 10 each fully paid-up held by a shareholder of RIL. And, the RIL shareholder will get one share of Reliance Communication Ventures Ltd of the face value of Rs 5 each credited as fully paid up for every one share of Rs 10 each fully paid-up.

The RIL share closed today at Rs 855.10, down Rs 4.85 (0.56 per cent) from the previous close of Rs 859.95.