Mumbai: Shares of Reliance Industries Ltd (RIL) witnessed four block deals, in which around 391.20 million shares of the company changed hands on BSE, according to Bloomberg data.
However, details of the buyers and sellers were not known. This was the third largest block deal in the last seven trading sessions. All the three deals are valued at nearly Rs50000 crore each.
Earlier on 9 March, RIL witnessed first block deal in which around 396.10 million shares or 12.2% stake of the company changed hands.
In that deal, Taran Enterprises LLP sold 106.37 million shares of the company, Abhayaprada Enterprises LLP sold 124.51 million, Trilokesh Commercials LLP sold 124.51 million while Adisesh Enterprises LLP sold 40.69 million shares of the company. Devearshi Commercials LLP bought 355.40 million shares, while Tattvam Enterprises LLP bought 40.69 million shares of the company.
On 15 March, the company witnessed second block deal in which around 388.70 million shares or 12% stake of the company changed hands.
In that deal, Ajitesh Enterprises LLP sold 127.04 million shares of the company, Bhuvanesh Enterprises LLP sold 134.62 million, Badri Commercials LLP sold 127.04 million shares of the company. Karuna Commercials LLP bought 254.08 million shares while Tattvam Enterprises LLP bought 134.62 million shares of the company.
On 2 March, RIL announced in a notice to the stock exchanges that its promoter group entities have proposed to re-structure their shareholding by an inter-se transfer of shares. The restructuring will not change the promoter stake (currently 46.48%) in India’s largest company by revenue; around 1.2 billion shares held by 15 entities are being transferred to eight others, the company said in a notice to BSE.
Eight group entities of the founders will acquire the shares. These entities include Devarshi Commercials LLP, Karuna Commercials LLP, Tattvam Enterprises LLP, Srichakra Commercials LLP, Svar Enterprises LLP, Vasuprada Enterprises LLP, Shreeji Comtrade LLP and Shrikrishna Tradecome LLP.
The RIL stock opened at Rs 1300.65 on BSE and touched a high and a low of Rs 1305 and Rs 1295.60, respectively. At 10am, the scrip was trading at Rs 1296.55 on BSE, down 0.32% from its previous close while India’s benchmark Sensex Index fell 0.44% to 29,517.58 points.