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Strength in Unity. RNRL Merged R-Power and RNRL good for ADAG. Share Swap Ratio is expected to be 1 R-Power : 4 RNRL. That is for every 4 share of RNRL shareholder are expected to get one share of Reliance Power.
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The boards of both the companies will meet on Sunday to consider the proposal. Though R-Power and RNRL spokespersons declined to share any details, the two companies informed of the development to the stock exchanges after close of trading.
Last week, Mukesh Ambani-promoted Reliance Industries (RIL) and RNRL had signed a revised gas sale master agreement (GSMA) pursuant to the Supreme Court’s May 7 judgment, where it had turned down RNRL’s plea for cheap gas from RIL based on a family agreement.
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