Mukesh Ambani’s shareholding in RIL increases to 48.87%

Mukesh Ambani’s stake in Reliance Industries has increased to 48.87 per cent pursuant to a scheme of arrangement, according to an exchange filing. Ambani and his private firms held 47.29 per cent stake as on June 30, 2019 in India’s second-most valuable company. Reliance Services and Holdings, a private firm of Mukesh Ambani on Tuesday said that it has acquired 2.71 per cent stake, or 17.19 crore shares, on Sept 13, 2019 pursuant to a scheme of arrangements. Earlier in July, Reliance Industries had announced a composite scheme of amalgamation by merging Reliance Holding USA into Reliance Energy Generation and Distribution and the latter with the company itself.