The Hindu : National : Reliance: Bombay Stock Exchange terms for listing demerged firms

Online edition of India's National Newspaper
Wednesday, Feb 08, 2006

National

National

Reliance: Bombay Stock Exchange terms for listing demerged firms

Special Correspondent

"Objective of the demerger process is to unlock shareholder value for the shareholders"

MUMBAI: The Bombay Stock Exchange, in a letter on Monday, has specified a clear path for listing the four companies which were demerged from the Reliance Industries Limited group as part of the settlement between the Ambani brothers — Mukesh and Anil.

The entities are Reliance Natural Resources Limited, Reliance Communication Ventures Limited, Reliance Energy Ventures Limited and Reliance Capital Ventures Limited.

Their listing can be processed once the certified true copy of the final information memoranda, duly approved by the Board, is submitted and the provision of clause 49 of the listing agreement complied with, says the letter.

"We are confident"

"We are confident that Anil Dhirubhai Ambani Group (ADAG) will fulfil these conditions at the earliest to ensure prompt listing," Reliance Industries said in a release.

"The primary objective of the demerger process is to unlock shareholder value for the shareholders of both the demerged company and the resulting companies," Reliance Industries said here.

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