RIL Proficiently Reduces Its Promoter Holding To 55
The total number of promoter groups for Reliance Industries reduces to 55 manifesting its competence in reducing its promoter holding from 62, during the beginning of the financial year 2012-2013. While it still stands as the third highest amongst the Sensex- listed company, its cogency with respect to bringing down the number of promoter’s group serves to be a cue to its growth. According to RIL’s latest news, the promoter‘sgroup entails six individuals including MukeshAmbani, the Chairman and Managing Director of the company. Family members including KokilaDhirubhaiAmbani(MukeshAmbani’smother), Nita Ambani (MukeshAmbani‘s wife),Isha, Akash and Anant (children of MukeshAmbani) also hold a miniature part of this holding. Besides,there are around 48 corporate bodies and 1 trust belonging to this group. LLP (Limited Liability Partnership) firms hold around three fourth of the company’s holding with it accounting to be 29 among the 48 bodies. Thus, the LLPs represent 33% of the total promoter’s group that account for 45% in the stake.
There has been a tremendous fall in the total number of the promoter holding at RIL since the time the listed companies were obliged to reveal the number of their promoter’s group in June 2006.The total number of its promoter ‘s group during the fiscal ended March 31 , 2012 accounted to be 68. However, the end of December 2011 witnessed the number to be 65, which later reduced to 62 at the onset of the financial year, 2012-2013.
The lowest number of total promoter‘s group was when it stood at 41 during the end of the fiscal ended March 31, 2010. This number however later rose to 74 in the following quarter and remained consistent for three quarters. Later, the number of promoter‘s entities reduced only during the January – March period of 2011. There were no LLPs in the promoter’s group when the company’s total promoter group was 41 (lowest). On the other hand, it had 27 LLPs in the quarter ended June 2010.
Among the 30 Sensex companies, the share market considers the company with the largest promoter group to be Bajaj Auto with its standing at 81, at present. The company previously had a higher number of promoter group, which has significantly fallen down. During the end of December 2011, the number accounted to be 84.The company with the second largest promoter entity is Jindal Steel with the number accounting to be 56. This number has remained unvarying for this company during the course.
Tags: Reliance , Mukesh Ambani , RIL , Reliance Industries , Promoter
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