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Ambani ups stake in RIL to 48.87%

Updated At : 12:16 PM Sep 19, 2019 IST

New Delhi, September 18

Billionaire Mukesh Ambani has raised promoter stake in flagship Reliance Industries by 2.71% to 48.87%, according to regulatory filing by the company.

Reliance Services and Holdings Ltd, controlled by promoter group firm Petroleum Trust, acquired 17.18 crore shares or 2.71% stake in Reliance on September 13, it said.

The acquisition was pursuant to a scheme of arrangement not directly involving Reliance, the filing said without giving details.

Mukesh Ambani and his private firms held 47.29% stake as on June 30, 2019 in India's second-most valuable company. — PTI

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Ambani ups stake in RIL to 48.87%

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