Mumbai, July 4
RELIANCE Industries (RIL) has acquired 1.36 crore equity shares of Reliance Energy Ltd (REL) from Reliance Industrial Investments and Holdings, a wholly owned subsidiary of Reliance Industries Ltd.
This is an "Inter se transfer of shares under the promoter category," according to notices sent to BSE by both RIL and REL. The transaction took place on June 30.
This transfer is believed to be part of the restructuring process in the Reliance Group that will lead to the division of the businesses between the Ambani brothers.
Reliance Energy has also announced the appointment of Mr K. K. Sinha as Director (Human Resources). Mr Sinha has been with National Thermal Power Corporation for the last 35 years, said a release from REL.