No plans to merge RIIL with RIL, says company official

MUMBAI: Reliance Industrial Infrastructure Ltd (RIIL), a Reliance Group Company, has no plans to merge with Reliance Industries Ltd, a senior company official said.

Reliance Industries holds a 45.43 per cent stake in Reliance Industrial Infra.

"We have no plans to merge with Reliance Industries," Reliance Industrial Infra's Director, S C Malhotra, told shareholders at the 21st annual general meeting held here today.

Several shareholders raised the query of a possibility of the company's merger with Reliance Industries at the AGM.

Apart from RIL, Reliance Capital also holds an 1.06 per cent stake in Reliance Industrial Infra. Among other shareholders, Religare Securities holds 0.52 per cent, Angel Broking 0.34 per cent, Sharekhan 0.33 per cent and Karvy Stock Broking 0.29 per cent stake.

The future outlook of the company is good, RIIL's Chairman, Mahesh Kamdar, said.

Reliance Industrial Infrastructure is mainly engaged in the business of setting up and operating industrial infrastructure. The company is also engaged in related activities involving leasing and providing services connected with computer software and data processing.