The Hindu Business Line : Reliance Power, RComm rejig promoter stakes

MUMBAI: Anil Ambani group firms Reliance Communications and Reliance Power on Monday restructured their respective promoter holdings through transfer of shares among group companies.

In a disclosure to the Bombay Stock Exchange, RCom said one of its promoters AAA Communication Pvt Ltd has transferred over 9.51 crore shares or 4.61 per cent stake through inter-group transactions to each of AAA Industries Pvt Ltd and ADA Enterprises an d Venture Pvt Ltd.

AAA Communication Pvt Ltd holds 130,81,10,172 shares, or 63.38 per cent stake, in RCom as on March 31, 2009.

In another disclosure, Reliance Power said its promoter AAA Project Ventures has transferred over 8.19 crore shares or 3.42 per cent stake to each of Reliance Enterprises and Ventures Pvt Ltd and AAA International Capital Pvt Ltd.

Pursuant to the share transfer between the promoters, AAA Project Ventures now holds over 95,44,98,000 shares or 39.82 per cent stake in Reliance Power. As of March quarter, the entire promoter group held 84.78 per cent in Reliance Power and 67.34 per ce nt stake in RCom.

“The aggregate shareholding of the acquirers and the PACs, before and after the above transfer remains unchanged,” the disclosure said.

Shares of Reliance Power closed 0.63 per cent up at Rs 174.55 and RCom ended down 1.76 per cent at Rs 306.75 on the Bombay Stock Exchange. – PTI

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