R-Infra buys 95 million R-Power shares1 min read . Updated: 24 Jan 2014, 11:28 PM IST
Shares were transferred from another Reliance Group entity, Reliance Enterprises and Ventures, at `68 a share, making the deal worth `646 crore
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.