Group of investors buys 5 cr RIL shares

After Reliance Industries announced the record date for its demerger scheme, its counter is now abuzz with activity with a clutch of investors resorting to block deals for acquiring over 5.03 crore shares.

Bhumika Trading Pvt Ltd along with a group of persons acting in concert - Ekalavya and Ekansha, have acquired 4,94,99,649 shares of RIL on December 21 by way of a block deal, the company informed bourses on Monday.

The block deals were carried out as per Section 2(1)(e) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.

Moreover, Bhumika said certain other investors have acquired 8,19,600 equity shares of RIL on the same day from open market as creeping acquisition under Regulation 11(1) of the Takeover Regulations of SEBI.

RIL shares are now traded at about Rs 523 in major stock exchanges.