Reliance Cap, RCV to merge at 5:100 ratio

Business
(Last Updated On: January 6, 2016)

MUMBAI: Anil Ambani-controlled Reliance Capital on Monday approved the merger of Reliance Capital Ventures (RCVL) with itself for which the share swap ratio has been fixed at 5:100.

The board of directors has approved the scheme of amalgamation, which entails a share exchange ratio of 5 shares of Reliance Capital for every 100 shares of Reliance Capital Ventures following the demerger scheme announced by the Reliance group.

RCL informed the Bombay Stock Exchange that the share exchange ratio is based on the number of shares of the company held by RCVL, as it was valued by global management consultancy firm KPMG.

 

SOURCE: THE TIMES OF INDIA

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