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RNRL and RPower Share Swap Ratio - 1:4?
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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.
ADAG to merge RNRL and Reliance Power
RNRL Merger with R-Power, RNRL Merger with Reliance Power, Reliance Natural Resources Merger with Reliance Power, Anil Ambani RNRL Merger with Reliance Power, Share Swap Ratio RNRL Merger with Reliance Power. Reliance Merger News.
RNRL to be merged with Reliance Power
The Anil Dhirubhai Ambani Group (ADAG) has decided to merge Reliance Natural Resources Ltd (RNRL), its gas trading subsidiary, with Reliance Power.
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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ADAG stocks go up, RNRL feels the heat
With Reliance-Anil Dhirubhai Ambani Group (ADAG) group officials launching damage controlling measures, stocks of all group companies, except for Reliance Natural Resources, rose on Monday as the market scaled 591 points.
Reliance Infrastructure was the highest gainer on the BSE, which went up by 8.48% to Rs 1,062. However, the court’s verdict prompted several analysts to again rate the RNRL stock as the company will be getting gas at a higher price from Reliance Industries, owned by Anil’s brother, Mukesh. On Monday, RNRL’s stock was down 4.92 % and it closed at Rs 50 on the BSE.
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Reliance Natural Resources Q2 net rises 5 pct
Three months ended Sept. 30 (versus the same period a year earlier, in million rupees unless stated) Net profit 211.6 vs 201.0
NOTE: Reliance Natural Resources, part of India’s Anil Dhirubhai Ambani Group, is engaged in the sourcing, supply and transportation of gas, coal and liquid fuels.
Source: forbes
Gas row: Ambani brothers MoU not binding on RIL board
It was day three of the legal case between Mukesh Ambani’s Reliance Industries (RIL) and Anil Ambani’s Reliance Natural Resources (RNRL) in the row over price of gas. CNBC-TV18’s Nayantara Rai gives you a ringside view of developments.
The Supreme Court bench asked RIL to prove whether or not the family Memorandum of Understanding (DoT) signed between the two promoters was binding on the company.
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3-judge bench ready to take up Ambani dispute case
A three-judge bench of the Supreme Court is ready to take up the dispute between the Ambani brothers over supply of gas from the Krishna-Godavari basin.
According to the advance cause list of the apex court, which deals with the list of items for hearing, the petitions related to the KG gas slugfest will be taken up by a three-judge bench on October 20.
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Family MoU is not binding on corporate entity: RIL
Reliance Industries has filed an affidavit against Reliance Natural Resources’ (RNRL) special leave petition (SLP) in the Supreme Court, reports CNBC-TV18’s Nayantara Rai. The affidavit is well over a thousand pages. We are reading it and comprehending everything slowly. It has gone back before the memorandum of understanding was signed and brought to life and what exactly happened and transpired between the two brothers.
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RNRL now moves Supreme Court against oil regulator
In the latest twist to the gas dispute between the two Reliance group scions, the Anil Ambani group firm Reliance Natural Resources Ltd moved the Supreme Court on Tuesday, alleging that the petroleum sector regulator V K Sibal was acting at the behest of Mukesh Ambani’s Reliance Industries Ltd (RIL) in exchange for undue favours.
RNRL’s move came a day after it was reported that the Central Vigilance Commission (CVC) has initiated an inquiry by the Central Bureau of Investigation (CBI) into the alleged nexus of Sibal with RIL.
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RNRL drags DGH into ongoing gas issue with Reliance Industries
Reliance Natural Resources Ld (RNRL) moved an application before the Supreme Court on Tuesday alleging nexus between the Directorate-General of Hydrocarbon (DGH) and Reliance Industries.
Quoting media reports to that effect, RNRL has alleged that the DGH, Mr V.K. Sibal, has been recipient of undue favours from RIL and appears to be acting at the behest of the Mukesh Ambani company.
The application also states that Mr Sibal has approved the phenomenal increase in capex of RIL-operated Krishna Godavari Basin D6 block between September-December 2006.
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