Reliance Cap buys 4.98% in Trinethra Infra

Anil Ambani Group company Reliance Capital has acquired a 4.98 per cent stake in an infra developer Trinethra Infra through an open market transaction.

"Reliance Capital has acquired 16,08,000 equity shares of Trinethra Infra Ventures Ltd, equivalent to 4.98 per cent of capital by secondary market purchase," the Hyderabad-based infra firm said in a filing to the Bombay Stock Exchange.

The company did not provide further details such as deal date and about the price at which these shares were purchased.

However, based on current share price of Trinethra Infra the deal may be around Rs 9 crore (Rs 90 million).

Following the announcement, shares Trinethra Infra jumped 2.29 per cent to hit its life-time high level of Rs 59 on the BSE.

Reliance Capital was quoting at Rs 797.90, down by nearly 2 per cent. Trinethra is specialised in infrastructure development and build highways, construct apartments, shopping malls and hotels. Reliance Capital is the financial services arm of ADAG, led by industrialist Anil Ambani.