Reliance Industries (RIL) on Thursday said it had raised around Rs. 3,188 crore through the sale of 1.50 crore equity shares of the company.
The Petroleum Trust, one of the promoter entities of the company, sold 1.50 crore equity shares of the company at an average price of about Rs. 2,125 a share, RIL said in a filing to the Bombay Stock Exchange. The financial impact of this transaction would be reflected in the consolidated statement of RIL, the company said.
Reliance Industrial Investments and Holdings Ltd, a wholly owned subsidiary of RIL, is the sole beneficiary of the Trust.
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The Petroleum Trust holds over 6.65 per cent stake in RIL and the total promoter holding in the company stands at 49.03 per cent.
Shares of RIL slipped by 2.86 per cent and witnessed an intra-day low of Rs. 2,121 on the Bombay Stock Exchange and by 2.79 per cent to a low of Rs. 2,123 on the National Stock Exchange.