Reliance Industries Ltd. (RIL) has increased its stake in hospitality firm EIH to 18.53 per cent by picking up additional 2.13 crore shares worth Rs.192 crore through an open market transaction.
RIL subsidiary Reliance Industries Investment and Holding Pvt. Ltd. purchased 2.13 crore shares of EIH (accounting for 3.73 per cent stake) for Rs.90 apiece, valuing the deal at Rs.191.83 crore, according to information available with the stock exchanges. As of December quarter, Reliance Industries Investment and Holding Pvt. Ltd. held 14.8 per cent stake in EIH.
