RNRL Rel Power Merger News | RNRL, Rel Power Share Swap Deal

RNRL Rel Power Merger News | RNRL, Rel Power Share Swap Deal

The gas-based energy resulting company Reliance Natural Resources (RNRL) and its other group companies controlled by billionaire Anil Ambani have been in news since the end of a high-profile gas supply dispute with his brother.

The boards of two Anil Ambani-led power majors, Reliance Natural Resources and Reliance Power, on Sunday approved the merger of the two companies in a 4:1 share swap ratio.The exchange ratio is based on valuations by KPMG.

The all-stock deal is pegged at USD 11 billion and will result in fresh issuance of 40.8 crore shares by Reliance Power. This will also lead to Reliance Power’s equity dilution of 14.6%.

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