Nod for Rel Power, RNRL merger
Mumbai, Sep 6, DHNS:
The Equity shareholders of two of the Anil Dhirubhai Ambani Group firms, Reliance Power Limited (Reliance Power) and Reliance Natural Resources Limited (RNRL) have approved the merger between the two entities at their respective Meetings convened.
As per the deal approved by the boards of the two companies on July 4, RNRL would merge with Reliance Power in an all-share deal, under which RNRL shareholders for their every four shares would get one share of Reliance Power. Post the deal, which was valued at about Rs 7,150 crore at the time of announcement, Reliance Power is estimated to have over 6 million shareholders.
