RIL divests 4.01 pc stake in RPL for Rs 4,023 cr

New Delhi, Nov 24: Mukesh Ambani-run Reliance Industries Ltd has said it has offloaded 4.01 per cent stake in its arm Reliance Petroleum Ltd (RPL) for Rs 4,023 crore.

The company said in a statement that it has sold Rs 18.04 crore equity shares out of its holding of 75 per cent in RPL, which has now come down to 70.99 per cent.

''The sale has further helped to broadbase the shareholding pattern of RPL. The number of shareholders of RPL has increased from 12 lakh at the time of the IPO to about 16 lakh,'' RIL said.

The US energy giant Chevron holds about five per cent in the company.

RPL is setting up a 5,80,000 barrel per day refinery, the sixth largest in the world, in the special economic zone at Jamnagar in Gujarat. A 0.9 million tonne polypropylene plant is also being commissioned near the refinery.

RPL in May last year had offered 20 per cent of its equity that is 90 crore shares in its IPO.

UNI