Mukesh Ambani group company Reliance Petroleum today said the its scrip will be suspended from trading on bourse with effect from September 25 pursuant to its merger with another group firm Reliance Industries.
“The equity shares of Reliance Petroleum shall be suspended with effect from September 25 on account of the scheme of amalgamation with RIL,” RPL said in a filing to the National Stock Exchange.
Continue reading RPL shares trading to be suspended from Sept 25
Reliance Industries , the country’s most valued company, today said the Bombay High Court has approved merger of group firm Reliance Petroleum (RPL) with the company.
The Bombay High Court has sanctioned the scheme of amalgamation of RPL with RIL, Mukesh Ambani-led company said in a filing to the Bombay Stock Exchange.
The High Court of Gujarat has also sanctioned the scheme, it added.
Continue reading RIL gets High Court approval for RPL merger
The Bombay High Court on Monday dismissed an appeal filed by two shareholders against the merger of Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd (RPL).
A Division Bench led by Justice Bilal Nazki Monday dismissed the appeal. The Bench also did not grant a stay on its own order.
Earlier a single judge of the High Court had approved the merger, but Anup Sheth and Rasikbhai Mardia, minority shareholders of both RIL and RPL, had challenged it before a Division Bench.
Continue reading Bombay HC approves RIL-RPL merger
The Bombay High Court on Monday approved the merger between Reliance Industries and Reliance Petroleum but stayed its own order for four weeks to enable those objecting to the amalgamation to file appeal before division bench.
Anup Sheth, Jayesh Shah and Shailesh Mehta, all shareholders of both RIL and RPL, had filed applications, objecting to the merger scheme in the present form.
Continue reading Bombay High Court Approved RIL-RPL merger
The all-share merger deal valued at about Rs 8,500 crore between the two Mukesh Ambani group firms, RIL and RPL, has become probably the 10th-biggest ever for the country and the first billion-dollar deal this year.
As per the merger deal approved by the boards of Reliance Industries and Reliance Petroleum, shareholders will get one RIL share for every 16 RPL shares – resulting into issuance of 6.92 crore new shares by RIL.
Continue reading RIL-RPL merger is one of the largest M&A deal for Indian Business
The Reliance Industries Limited (RIL) board will meet on March 2 to consider merger with Reliance Petroleum Limited (RPL). The merger is effective retrospectively from April 1, 2001.
Highlights of the merger:
The Reliance Industries Limited (RIL) board will meet on March 2 to consider merger with Reliance Petroleum Limited (RPL). RIL, India’s largest private sector enterprise, will issue about 34-crore additional equity shares of market value of approximately Rs 11,000 crore. Earlier, RIL had sold 4% stake in RPL taking its stake down to 71%.
The value of RPL’s assets has been put at Rs 21,000 crore by industry consultants and ChemSystems, a firm providing support in the field of petroleum, chemical, and petrochemical industries. The company offers data, analysis, forecasts, training and planning tools to improve understanding and planning in the areas of energy and chemicals.
Continue reading Shareholding Pattern of RIL and RPL
The Reliance Industries board will meet on March 2 to consider merger with Reliance Petroleum. RIL, India’s largest private sector enterprise, will issue about 34-crore additional equity shares of market value of approximately Rs 11,000 crore. RIL sold 4% stake in RPL taking its stake down to 71%.
Reacting to the RIL-RPL merger news, Dipan Mehta, Member, Bombay Stock Exchange, said in an interview with CNBC – TV 18, this is what the company management has been doing over the years. â€œForming separate companies and then merging them.â€
Continue reading How to trade RIL – RPL on coming Monday
Petrochemicals-to-retail giant Reliance Industries Ltd is proposing to once again merge its refinery subsidiary with itself that would make it one of the world’s largest refiners.
The boards of Mukesh Ambani-promoted RIL and Reliance Petroleum Ltd will meet on Monday to consider the merger.
The amalgamation of RPL into RIL is most likely to be a “vanilla merger” through an all-share deal without any cash component, a source said.
Continue reading RIL-RPL together may become world’s largest refiners
The Reliance Industries (RIL) board will meet on March 2 to consider merger with Reliance Petroleum (RPL). The merger is effective retrospectively from April 1, 2001.
SP Tulsian, of sptulsian.com doesnâ€™t see RIL-RPL merger news a reason to cheer for shareholders of Reliance Industries. According to him, RIL shares could rise by about Rs 50 or cross Rs 1,300.
However, he was quick to add that this step will disappoint shareholders of Reliance Petroleum. “One can see the price correcting to about Rs 70 because ultimately everything depends on the conversion ratio, which is likely to hover between 18:1 and 24:1.
It all depends on what stand Reliance Industries would take for extinguishment of their stake of 70% that they hold in Reliance Petroleum. If they go for extinguishment then it could be a better ratio of 18:1. If they go for non-extinguishment, then the ratio could be 24:1.â€
Continue reading RIL shareholder to benefit and RPL stockholder may lose: Analyst