RIL gains on receiving $574 million towards first tranche of sale proceeds of EFS

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

09 Jul 2015 Evaluate

Reliance Industries is currently trading at Rs. 995.00, up by 0.20 points or 0.02% from its previous closing of Rs. 994.80 on the BSE.

The scrip opened at Rs. 995.35 and has touched a high and low of Rs. 1001.45 and Rs. 992.70 respectively. So far 11,003 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1049.90 on 09-Sep-2014 and a 52 week low of Rs. 796.75 on 30-Mar-2015.

Last one week high and low of the scrip stood at Rs. 1018.85 and Rs. 990.45 respectively. The current market cap of the company is Rs. 3,21,863.00 crore.

The promoters holding in the company stood at 45.24 % while Institutions and Non-Institutions held 31.38 % and 20.15 % respectively.

Reliance Industries (RIL) has received gross cash consideration of $574 million towards the first tranche of sale proceeds of EFS. Reliance Holding USA, Inc, a subsidiary of RIL has recently announced sale of its interest in EFS Midstream LLC (EFS) to an affiliate of Enterprise Products Partners L.P.

In a joint transaction announced on May 31, 2015, Reliance and Pioneer Natural Resources Company agreed to sell their respective ownership interests (of 49.9% and 50.1%) in EFS to an affiliate of Enterprise Product Partners L.P. for an aggregate consideration of $2,150 million.

The transaction closed on July 08, 2015 with the effective date for the transaction being July 1, 2015. Under the terms of the definitive agreements, Reliance received gross cash consideration of $574 million towards the first tranche of sale proceeds. Following retirement of debt at EFS level and other adjustments customary for similar transactions, Reliance received net proceeds of $528 million at the closing today.

The final tranche of payment of $499 million in cash is expected to be received on or before the first anniversary of the closing date.

Reliance Industries Share Price

1435.70 0.00 (0.00%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1435.70
Indian Oil Corp.	144.70
BPCL	302.85
HPCL	387.00
MRPL	167.90
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