The Reliance Industries (RIL) seems to be taking steps to ensure a speedy demerger. After the settlement between the two Ambani brothers, RIL, managed by Mukesh Ambani, is in the process of transferring all investments held in Reliance Energy and Reliance Infocomm through its group companies into its own books. .
RIL has acquired 1.36 crore equity shares of REL from Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of the company, under the promoter category. This follows a similar transfer recorded last week by RIL's investments in Reliance Infocomm. The board of directors, held on June 28, has decided to exercise the option to convert the preference shares of Reliance Infocomm into fully paid-up equity shares of the face value of Re 1 each at a price of Rs 32 per equity share. The company has an investment of Rs 8,100 crore represented by 162 crore preference shares in Reliance Infocomm.
05-Jul-05 
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