RIL raises Rs 3,188 cr through sale of shares | business | Hindustan Times
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RIL raises Rs 3,188 cr through sale of shares

business Updated: Sep 17, 2009 13:21 IST

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The country's largest private sector firm, Reliance Industries, said on Thursday it has raised around Rs 3,188 crore rough sale of 1.50 crore equity shares of the company.

The Petroleum Trust, one of the promoter entity in RIL, sold 1,50,00,000 equity shares of the company at an average price of about Rs 2,125 per share, Reliance Industries said in a filing to the Bombay Stock Exchange.

The Trust will realise around Rs 3,188 crore through the said share sale, the filing said, addding the financial impact of this transaction would be reflected in the consolidated statement of RIL.

Reliance Industrial Investments and Holdings Ltd, a wholly owned subsidiary of RIL, is the sole beneficiary of the Trust.

The Petroleum Trust holds over 6.65 per cent stake in RIL and the total promoter holding in the company stands at 49.03 per cent.

Shares of the company, however, skid nearly three per cent on the bourses, even as the broader market continued with its upward trend and achieved new highs.

Shares of RIL slipped 2.86 per cent and witnessed an intra-day low of Rs 2,121 on the BSE and on the National Stock Exchange, the stock skid 2.79 per cent to a low of Rs 2,123.