RIL fixes Sept 29 as record date for RPL shareholders

RIL said that it has fixed Sept. 29 as the record date for shareholders of RPL to receive equity shares of Reliance Industries under the merger scheme.

Mukesh-Ambani controlled Reliance Industries Ltd (RIL) on Tuesday said that it has fixed September 29

as the record date for shareholders of Reliance Petroleum Ltd (RPL) to receive equity shares of Reliance Industries under the merger scheme.

In a filing with the Bombay Stock Exchange Tuesday the company said it will issue equity shares of Rs 10 each to the shareholders of the RPL as on the record date in the ratio of one equity share of RIL for every 16 equity shares of RPL.

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The equity share certificates of RPL will not be called back and the same would not be tradable or negotiable from the record date.

The new equity shares will be submitted for listing with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE),it said.

Reliance Petroleum Limited (RPL),a subsidiary of Reliance Industries,was formed for setting up a Greenfield petroleum refinery and polypropylene plant at Jamnagar in Gujarat and has commenced refining of crude. With an annual crude processing capacity of 5,80,000 barrels per stream day (BPSD),RPL will be the sixth largest refinery in the world.

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