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  1. #1
    Retired Staff
    Join Date
    Mar 2009
    Lonley Planet

    Default Reliance Industries raises Rs.2,675 cr from share sale

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    Reliance Industries (RIL) Monday raised Rs.2,675 crore through the sale of about 2.58 crore equity shares.

    The stock was sold by Petroleum Trust -- a promoter unit of RIL -- at Rs.1,035 per share, and the money will accrue to Reliance Industrial Investments and Holdings, a wholly-owned RIL subsidiary, the company said in a regulatory statement.

    'The financial impact will be reflected in the consolidated financial statements of the company,' the statement added.

    This is RIL's second sale of its shares. It had raised about Rs.3,188 crore through such a transaction last September.

    The RIL scrip was ruling 1.53 percent down at Rs.1,072.75 around 1.05 p.m. at the Bombay Stock Exchange.



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