Reliance Infra gets nod to demerge 6 divisions

Reliance Infra gets nod to demerge 6 divisions
PTI
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First Published: Tue, Jun 09 2009. 10 28 PM IST
Updated: Tue, Jun 09 2009. 10 28 PM IST
Mumbai: Reliance Infrastructure, a subsidiary of the Reliance Anil Dhirubhai Ambani group, on Tuesday said its shareholders have approved the transfer of certain divisions of the company into other group firms.
In a filing to the Bombay Stock Exchange (BSE), R-Infra said its shareholders have approved the demerger of six of its division from itself.
Under the scheme, the Dahanu Thermal Power Station (DTPS) division of the company would be transferred into Reliance Energy Generation and Goa and Samalkot power stations division would be transferred into Reliance Goa and Samalkot Power.
Two other divisions – power transmission and power distribution – will be transferred to Reliance Power Transmission Ltd and Reliance Energy Ltd respectively. The toll roads and real estate divisions of the company would be moved to Reliance InfraVentures and Reliance Property Developers Ltd respectively, the statement said. Reliance Infra shares on Tuesday closed at Rs1,149.30, up 2.44% on the BSE. The 30-stock Sensex on the BSE closed 3.14% up at 15,127.00.
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First Published: Tue, Jun 09 2009. 10 28 PM IST