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Reliance Cap buys 8.68% in Trent for Rs21.2 cr

Reliance Cap buys 8.68% in Trent for Rs21.2 cr
PTI
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First Published: Fri, Sep 03 2010. 12 49 PM IST
Updated: Fri, Sep 03 2010. 12 49 PM IST
New Delhi: Tata group firm Trent Ltd today said Anil Ambani-promoted Reliance Capital has bought 8.68% stake in it for Rs21.2 crore, marking ADA Group’s entry into the retail sector.
In a filing to the Bombay stock Exchange (BSE) today, Trent Ltd said Reliance Capital purchased 3,86,582 shares through a rights subscription on 31 August.
Trent’s shares shot up to a new high to touch Rs1,126 per share in morning trade on BSE, up by 5.03% from the last closing.
Reliance Capital’s scrips saw a jump of 0.66% per share at Rs780.40 in morning trade at the BSE.
Rel Cap’s stake buy in Trent comes three months after Anil and his elder brother Mukesh Ambani scrapping a non- compete agreement in May that allowed each other to enter in areas, which were hitherho not allowed due to a family settlement agreement struck in 2006.
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First Published: Fri, Sep 03 2010. 12 49 PM IST