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Last Updated : Aug 06, 2012 09:02 AM IST | Source: PTI

RIL streamlines promoter holding; pares nos of firms to 55

Top private sector firm Reliance Industries has streamlined its promoter holding by bringing down the total number of promoter group entities to 55 -- still the third highest for any Sensex-listed company.

 
 
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Top private sector firm Reliance Industries has streamlined its promoter holding by bringing down the total number of promoter group entities to 55 -- still the third highest for any Sensex-listed company.


As per the latest data available with stock exchanges, Reliance Industries Ltd (RIL) now has a total of 55 entities forming part of its promoter group -- down from 62 at the start of the current financial year 2012-13.


Prior to this, the total number of promoter entities of RIL had declined from 65 at the end of December 2011, while it stood at 68 at the close of fiscal ended March 31, 2011.


Ever since the listed companies started disclosing the number of their promoter group entities to the stock exchanges in June 2006, the number of RIL's promoter group firms has been lowest at 41 at the end of fiscal ended March 31, 2010.


However, it rose sharply to 74 in the very next quarter and remained the same for three consecutive quarters before beginning to decline in January-March period of 2011.


Among the 30 Sensex companies, the number of promoter entities is largest for Bajaj Auto (81), followed by Jindal Steel (56) and RIL (55).


While this number has remained unchanged for Jindal Steel for many quarters, Bajaj Auto had a higher number of 84 promoter group entities at the end of December 2011.


RIL's 55 promoters currently comprise of six individuals, including its chief Mukesh Ambani and his family members, one trust and 48 corporate bodies.


The family members include Mukesh Ambani's mother Kokila Dhirubhai Ambani, wife Nita Ambani and children Isha, Akash and Anant, although their holdings are minuscule.


Almost three-fourth of the total promoter holding is owned through LLP (Limited Liability Partnership) firms, which are globally considered as among the most tax-efficient corporate structures for holding companies.


Out of the total of 48 corporate bodies forming part of RIL's promoter group, as many as 29 are LLPs. All the promoters together hold about 45% stake in RIL, out of which more than 33% are held through these LLPs.



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First Published on Aug 5, 2012 11:25 am
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