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Reliance Industries to sell 3.25 crore shares of NW18

07 Jul 2015 Evaluate

Reliance Industries (RIL) is proposing to sell 3.25 crore shares of Network18 Media & Investments (NW18), representing 3.10% of the equity capital of NW18, to bring down the aggregate shareholding of the promoter and promoter group to 75% and increase the public shareholding to 25% as mandated by the listing agreement pursuant to Securities Contract (Regulation) Rules, 1957.

In this regard, Shinano Retail (effectively 100 percent owned by Reliance Industrial Investments and Holdings, a wholly owned subsidiary of RIL), a promoter group company of NW18, has issued a notice of Offer for Sale (OFS) of 3.25 crore shares of NW18 through the stock exchange mechanism in accordance with the SEBI circulars.

RIL is the first private sector company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ and continues to be featured for the 11th consecutive year, currently ranking 114th in terms of revenues and 155th in terms of profits.



Peers
Company Name CMP
Reliance Industries 1206.65
Indian Oil Corpn. 130.50
Bharat PetroleumCorp 297.00
HPCL 343.05
MRPL 182.85
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