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Sunday, March 1, 2009

RIL - RPL Merger Highlights

Today, Reliance Industries have approved a scheme of merger of its subsidiary Reliance Petroleum (RPL).

Once the merger is completed, shareholders of RPL will receive one fully paid equity share of Rs 10 each of the company for every 16 fully paid equity shares of Rs 10 each of RPL held by them.

Below are the highlights of the RIL RPL Merger meeting
  • RIL-RPL Merger: Swap ratio at 16:1.
  • RIL to issue 6.92 cr shares to RPL shareholders.
  • RIL to extinguish Treasury Stock.
  • Merger to be effective from April 1, 2008.
  • Merger to give no tax relief for RIL.
  • Merger to be EPS positive.

Mukesh Ambani, chairman and managing director of Reliance Industries said, "The merger follows enduring philosophy of creating shareholder value."

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