In a block deal, RIL sold 3.3 crore treasury shares. A clutch of FIIs are the buyers of RIL Treasury shares. In a final tranche, RIL sold 3.3 crore shares at an average of Rs 1050/sh, thus raised total of Rs 3,465 crore. This was the largest of 3 tranches. The oil major has now raised a total of Rs 9330 crore.
In the first tranche, the company sold 1.5 crore shares at Rs 2125/sh, thus raising a total of Rs 3187.5 crore. Buyer was China’s leading AMC. In the second tranche, RIL sold 2.585 crore shares at Rs 1035/sh, thus raising a total of Rs 2680 crore. Buyer was LIC of India. In the third tranche, RIL sold 3.3 crore shares at 1050/sh, thus raising a total of Rs 3465 crore. Buyers are a clutch of 5 Asian/European long only funds.
Sources said that there is no further stake sales seen in near-term. Concrete moves from RIL will come on LB only after gas case resolution. Gas case verdict is seen logically within 4-5 weeks. The company will resort to some dynamic decision making on LB. Action on LB is seen in February.
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