After it’s 3 free shares for every 5 held, yet another move made by Anil Ambani to reduce losses and restore investor confidence by share buy-back.
Reliance Energy Ltd board has approved a buyback of shares worth up to Rs 2,000 crore (20 billion rupees) from the open market at a peak price of Rs 1,600 a share, a 9.6% premium.
Reliance Capital Limited (RCL) , Anil Dhirubhai Ambani Group’s financial services arm launched its microfinance initiative.
Reliance Capital is joining hands with two Gujarat-based microfinance institutions — MAS Financial Services and Vardan Trust to enhance penetration of microfinance in the country.
Anil Ambani’s wife Tina Ambani launched the initiative and handed over the first disbursement cheques.
Pic: Mr Anil Ambani, Chairman, Reliance Power, announced a 3:5 bonus issue for the shareholders.
Reliance Power Ltd (RPL), part of the Reliance Anil Dhirubhai Ambani Group (RADAG), announced it would give 3 bonus shares for every 5 held in an effort to reduce losses by shareholders after the poor performance of the stock after its listing on February 11.