R-Infra buys additional 2.32% stake in R-Power1 min read . Updated: 26 Mar 2014, 10:28 PM IST
At the closing price of R-Power's stock price on BSE on Wed, the deal is valued at Rs429 crore
Mumbai: Reliance Infrastructure Ltd. (R-Infra), the Anil Ambani-led Reliance Group’s infrastructure arm, has bought an additional 2.32% stake in Reliance Power Ltd. (R-Power), the conglomerate’s power generation company, in a block deal disclosed to the bourses on Wednesday.
R-Infra, which is one of the promoters of R-Power, bought the shares from another promoter firm Reliance Enterprises and Ventures Pvt. Ltd.
At the closing price of R-Power’s stock price on BSE on Wednesday, the deal is valued at Rs429 crore.
R-Power shares closed at Rs66.15 each, up 0.84% on BSE on Wednesday. The bourse’s benchmark index, Sensex, closed 0.18% higher at 22,095.30 points.
After this transaction, R-Infra’s stake in R-Power will go up to 38.8%.
R-Power has sued HT Media Ltd, publisher of Mint, in the Bombay high court over a 12 May 2010 front-page story in Mint that it disputed. HT Media is contesting the case.