Reliance Cap buys 30% Adlabs pie

Anil Ambani-controlled Reliance Capital along with Reliance Land Pvt Ltd have acquired 30.55 per cent stake in Adlabs Films.

The company has acquired 1.10 crore (11 million) equity shares of Rs 5 each fully paid up at an issue price of Rs 175.20 per equity share aggregating to 30.55 per cent of the total paid up capital of Adlbas Films on August 8, Reliance Capital informed the National Stock Exchange.

The mode of acquisition is preferential allotment and the shareholding of Reliance Land Pvt Ltd along with Reliance Capital Ltd after the acquisition is 1,22,55,000 shares aggregating to 34.04 per cent of the total paid up capital of the Adlabs, it said.