Home / Companies / R-Infra buys 95 million R-Power shares

Mumbai: Reliance Infrastructure Ltd (R-Infra) acquired 95 million shares of Reliance Power Ltd (R-Power) on Friday in a transfer within R-Power’s promoter group, according to a BSE notification.

R-Infra is R-Power’s main promoter and both the firms are part of the Anil Ambani-led Reliance Group.

According to information available with BSE, the shares were transferred from another Reliance Group entity, Reliance Enterprises and Ventures Ltd, at 68 a share, making the deal worth 646 crore.

The stake that was transferred represents 3.4% of R-Power’s outstanding equity shares.

R-Power’s shares closed 1.91% down at 66.65 each on BSE on Friday, and those of R-Infra lost 2.28% to close at 398.80 a share. The Sensex lost 1.12% to end at 21,133.56 points.

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.

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