Reliance Infra gets shareholders nod for biz transfer

MUMBAI: Anil Ambani Group firm Reliance Infrastructure on Tuesday said that its shareholders have approved the transfer of certain divisions of the company into group firms.

In a filing to the Bombay Stock Exchange, Reliance Infrastructure said its shareholders have approved the scheme of arrangement of demerger of six of its division from itself.

Under the scheme, the Dahanu Thermal Power Station (DTPS) division of the company would be transferred into Reliance Energy Generation and Goa and Samalkot power stations division would be transferred into Reliance Goa and Samalkot Power.

Further, the company's two other divisions - power transmission and power distribution - would be transferred into Reliance Power Transmission Ltd and Reliance Energy Ltd respectively.

Besides, the toll roads and real estate divisions of the company would be transferred into Reliance InfraVentures and Reliance Property Developers Ltd respectively, it added.

Shares of Reliance Infra closed at Rs 1,149.30, up 2.44 per cent on BSE.