Lenders sell Anil Ambani’s Reliance Group stocks worth Rs 552.17 crore after RCom files for bankruptcy.

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The share of promoters in the Reliance Group companies have decreased in the bracket of 2 to 4 per cent, bringing down promoter stake in Reliance Capital below 50 per cent.

Major finance companies have invoked pledged shares worth Rs 552.17 crore in the Anil Ambani-led Reliance Group companies after the announcement of insolvency proccidings by reliance communications on February 1. With this development, the share of promoters in the Reliance Group have decreased in the bracket of 2 to 4 per cent in certain Reliance Group companies, namely Reliance Power, Reliance Communications, Reliance Infrastructure and Reliance Capital, bringing down promoter stake in Reliance Capital below 50 per cent.

While lenders sold Reliance Power’s 21.05 crore shares worth Rs 263.77 crore, 75 lakh shares worth Rs 108 crore were sold in Reliance Infrastructure. Another 8.98 crore shares worth Rs 52.75 crore were sold in Reliance Communications and 1.03 crore shares worth Rs 126.94 crore sold in Reliance Capital. In total, 31.81 crore shares of Anil Ambani-led Reliance Group have been sold for a value of Rs 552.17 crore.

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