Eight promoter group companies of RIL will buy around 119 crore shares from 15 other promoter group companies in an inter-se transfer. Photo: ReutersMumbai: Shares of Reliance Industries Ltd on Friday were trading at a fresh nine-year high after the company proposed to re-structure its shareholding by inter-se transfer of shares. Eight promoter group companies of RIL will buy around 119 crore shares from 15 other promoter group companies in an inter-se transfer. These entities include Devarshi Commercials LLP, Karuna Commercials LLP, Tattvam Enterprises LLP, Srichakra Commercials LLP, Svar Enterprises LLP, Vasuprada Enterprises LLP, Shreeji Comtrade LLP and Shrikrishna Tradecome LLP. This will have an implication whenever RIL plans to sell shares and minimise its capital gains tax if long-term capital gains comes in, in future.

Source: Mint March 03, 2017 05:59 UTC