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Reliance unlocks shareholder value

Special Correspondent

Volume-weighted average price at Rs. 714

MUMBAI: Unlocking of shareholder value for 23 lakh stakeholders, the shares of Reliance Industries Ltd (RIL) on Wednesday opened at Rs. 702.90 on the Bombay Stock Exchange (BSE) in an unprecedented special trading session to discover the price of the scrip after its demerger. It was quoted at Rs. 699 on the National Stock Exchange (NSE). The demerger of RIL resulted in the emergence of four new entities as part of a settlement between the Ambani brothers, Mukesh and Anil.

The stock touched an intraday high of Rs. 724.70 and an intraday low of Rs. 686 on the BSE. In all, 1.2 crore shares were traded on the BSE and 2.3 crore shares on the NSE. The previous closing price of RIL was Rs. 928.15. The BSE and the NSE combined turnover had crossed Rs. 2,800 crore.

The NSE in a release stated that the special session for Reliance Industries was held from 8 a.m. to 9 a.m. so as to discover the price after the demerger. "Trading activity was normal and the number of orders was 4.04 lakh, number of trades was 3.25 lakh, number of shares traded was 3.98 crore and the total traded value was Rs. 2,844 crore. After the close of the special session the volume weighted average price for Reliance Industries was Rs. 714.35. The adjustments to the base index value were suitably carried out to compute the index value so as to give effect to the demerger of Reliance Industries Ltd," the NSE said.

"I am delighted that the demerger of Reliance Industries Limited (RIL) has unlocked unprecedented value for more than 23 lakh Reliance shareholders," said Anil Ambani, the younger brother of Mr. Mukesh Ambani, Chairman of RIL. RIL's standalone post-dermerger market capitalisation is 15 per cent higher than its pre-demerger market capitalisation, and 23 lakh Reliance shareholders will further benefit from the free shares they receive in the four Reliance-Anil Dhirubhai Ambani group companies, " Mr. Anil Ambani said.

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