RIL Promoter Firm Offloads Shares Worth Over Rs 11K-cr In Open Market Deals

Reliance Industries' promoter Devarshi Commercials LLP on Wednesday offloaded shares worth over Rs 11,000 crore in the firm through open market transactions.

According to the block deal data on BSE, Devarshi Commercials sold shares of Reliance Industries through two separate transactions.

While 5,80,40,583 shares were sold at an average price of Rs 950 apiece, 5,80,40,587 shares were offloaded at Rs 949 per scrip.

This took the total deal value to Rs 1,10,21,90,70,913.

The data also showed that another promoter entity of Reliance Industries, Samarjit Enterprises LLP, bought these shares at the same price.

As per the shareholding data for December 2019 quarter, Devarshi Commercials held 11.48 per cent stake in Reliance while Samarjit Enterprises held 200 shares of the firm.

Reliance Industries shares closed at Rs 1,081.25 on BSE, higher by 14.65 per cent.