Reliance promoter holdings may fall post demerger.
Economic Times (New Delhi, India), January, 2006
Byline: Haresh Soneji
Jan. 21--In the aftermath of the demerger, the promoter holdings in both Reliance Energy and Reliance Capital may fall. Once the demerger is through, Reliance Energy's promoter shareholding may drop from 51per cent to 32per cent and that of Reliance Capital will be down from 60.3per cent to 51per cent as per the court approved scheme of demerger of Reliance Industries (RIL).
This also means that the public shareholding, called free float in these companies, will increase sharply. In Reliance Energy, free float could rise to as much as 68per cent from the current 49per cent, and in Reliance Capital this free float will go up to 49per cent from the current 40per cent or so.
This has a few interesting implications. Reliance...
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