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Mukesh Ambani and family trade within to even out stakes; RIL stock up 4 %

Ambani family along with two promoter group firms -- Tattvam Enterprises and Samarjit Enterprises -- acquired 3.20 per cent shares from another promoter group entity Devarshi Commercials

Aprajita Sharma April 16, 2020 | Updated 10:17 IST
Mukesh Ambani and family trade within to even out stakes; RIL stock up 4 pc
Overall promoter group shareholding in RIL remains unchanged at 47.45 per cent

RIL Chairman Mukesh Ambani and his family - wife Nita Ambani and three children Akash, Isha and Anant Ambani - marginally hiked personal shareholding in the company to 75 lakh shares each. The Ambani family along with two promoter group firms -- Tattvam Enterprises and Samarjit Enterprises -- acquired 3.20 per cent shares from another promoter group entity Devarshi Commercials. Overall promoter group shareholding in RIL remains unchanged at 47.45 per cent.

Devarshi Commercials now holds 8.01 per cent stake in RIL, down from 11.21 per cent. "The transaction is part of a restructuring of promoter group holding," the company said in an exchange filing.

"We being the persons forming part of the promoter and promoter group of Reliance Industries Limited intend to acquire from one of the promoter group entities by way of inter-se transfer," said the company.

"The proposed transfers are only amongst the existing persons belonging to promoter and promoter group," the filing added. Reacting to the news, the RIL stock spiked 4.3 per cent to Rs 956.95 on the BSE, while the benchmark Sensex was trading flat.

After the transaction, each member in the Ambani family will hold 75 lakh shares each.  Mukesh Ambani will see his shareholding in RIL rise to 75 lakh shares or 0.12 per cent from 72.31 lakh shares or 0.11 per cent earlier.

His wife, Nita Ambani, who held 67.96 lakh shares, will raise her shareholding to75 lakh shares.  The twins -- Isha and Akash Ambani -- who held about 67.2 lakh shares, will hold 75 lakh shares. And Anant, youngest of the three siblings, will see his shareholding rise to 75 lakh shares against the present 2 lakh shares.

Tattvam Enterprises will hike shareholding to 8.01 per cent from 6.81 per cent while Samarjit Enterprises would see its holding rise to 1.83 per cent.

Devarshi Commercials LLP was the single biggest shareholder among the promoter group firms so far. Post the transaction, Srichakra Commercials LLP will be the biggest shareholder with 11.17 per cent stake.

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