REVL to list tomorrow
Mumbai, Feb 23 (UNI) More than 122.31 crore shares of Rs 10 value each of Reliance Energy Ventures Limited (REVL) will be listed on the stock markets tomorrow after its demerger from Reliance Industries Limited (RIL) on January 25.
As a part of restructuring process presently on in the Anil Dhirubhai Ambani group (ADAG), REVL has already merged with Reliance Energy Limited.
''Sooner or later REVL will be delisted and for every 100 RCVL shares one will get seven Reliance Energy shares if they don't sell,'' a leading BSE broker said.
Reliance Energy today closed at Rs 612.55 on the Bombay Stock Exchange(BSE).
''Based on today's price of Reliance Energy, REVL will be listed around Rs 60-65 per share tomorrow,'' the BSE broker said.
REVL received listing approval on February 21 after the company filed information memorandum with the stock exchanges.
Another demerged ADAG company - Reliance Capital Ventures Limited (RCVL) was listed on the Bombay Stock Exchange and the National Stock Exchange on February 21.
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