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The struggling company Reliance Natural Resources Ltd (RNRL), is all set to merge with sister firm Reliance Power (R-Power) in a Rs 50,000-crore, all-stock deal. This would help ADAG in concentrating on its firms which has some meaning and are viable.
The proposed merger is subject to approvals of the shareholders of R-Power and RNRL, the stock exchanges, the High Court here, and all other requisite permissions, sanctions and approvals.
R-Power will retain the assets and people of RNRL, a company with a turnover of Rs 298 crore, and continue to do business in the areas pursued by it, people close to the development said. After the merger, the company’s net worth will exceed Rs 16,000 crore and it will have 600,000 shareholders.
The merger will take the market capitalisation (m-cap) of R-Power to a little over Rs 52,000 crore. Its m-cap was Rs 41,979 crore at the close of trading on Friday and that of RNRL was Rs 10,394 crore. Hence R-power would become a company with it's own transportation of raw materials required for generation of proposed 10000 MW of power.
Monday, July 5, 2010
Reliance Power | RNRL merger at 11 billion all stock deal
Monday, February 25, 2008
Reliance Energy Directors to consider shares buy back
The board of directors of the ADAG company reliance energy would meet on march 5,2008 for considering of the shares buyback of reliance power, It may be recalled that Anil Ambani announced that the company would provide bonus shared to all the share holders of reliance Power in ratio 3:5 ie for every 5 shares which a share holder has would get 3 bonus shares.
and it was decided to transfer 5% of Reliance Power shares to Reliance Energy so that the stake of Reliance Energy remained unchanged.
Tuesday, January 15, 2008
Your views about opening price of Reliance Power IPO
Shares for Reliance Power(ADAG Group) are available in the market from Jan 15 to January 18
in price band of Rs 405-Rs 425 . So what are your views about this IPO as it is in news from past few weeks.
Predict your rate at which these shares will open in the market. already it has been predicted that the rate of opening would be atleast double of the issue price.
What do you feel about it as a retail investor??
Now it's your turn to predict the opening price of the much awaited Reliance Power IPO.