Reliance Industries Consolidates Treasury Stock Under One Entity
Mukesh Ambani, chairman and managing director of the Reliance Industries Ltd., right, and his wife Nita Ambani, left, arrive for the company’s annual general meeting in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Reliance Industries Consolidates Treasury Stock Under One Entity

Reliance Industries Ltd. has undertaken an internal reorganisation of treasury shares via a scheme of arrangement. 17.19 crore non-voting shares held by subsidiaries of the company, and classified as public shareholding, have been merged with Reliance Services and Holdings Ltd., a company controlled by Petroleum Trust, the company said in a media statement. The Petroleum Trust has been classified as a promoter entity group since 2002, the statement said.

“The sole beneficiary of Petroleum Trust is Reliance Industrial Investments and Holdings Limited (RIIHL), a 100 percent subsidiary of RIL and hence the ultimate beneficiaries of these shares are the shareholders of RIL.”

The Petroleum Trust will now own 41.28 crore shares of RIL, all of them non-voting. As a result of the merger, the shares owned by the subsidiaries now stand reclassified from public shareholding to promoter shareholding, indicating an increase in the total shareholding under the promoter category to 309.8 crore shares. That takes the promoter category shareholding to 48.87 percent of the total over 633.9 crore shares issued by the company.


  • Petroleum Trust: 24.09 crore shares—Promoter Shareholding Category (non-voting)
  • Subsidiaries: 17.19 crore shares—Public Shareholding Category (non-voting)


  • Petroleum Trust: 41.28 crore shares—Promoter Shareholding Category (non-voting)

This reorganisation doesn’t change the shareholding of promoter Mukesh Ambani and family, said the company statement. “No new shares have been acquired and Mukesh Ambani’s stake in RIL has not gone up.”

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