Reliance Naval and Engineering share: Due to huge debt, most of the listed companies of Anil Ambani are going through bankruptcy process. Some of these companies have also found buyers. For example, recently Reliance Capital has been bought by a Hinduja group company, while Reliance Naval and Engineering Limited (RNEL) has gone into the hands of Swan Energy Limited. Now an important information has been given by Swan Energy on the acquisition of Reliance Naval & Engineering.
What did the company say
The process of issuing one (1) equity share for every 275 equity shares held by the existing shareholders of Reliance Naval & Engineering Limited (RNEL) has been completed, Swan Energy said in a BSE filing. This process was ordered by the Ahmedabad bench of NCLT on December 23, 2022. now with this
Reliance Naval & Engineering Limited is in the process of obtaining dual listing approval from the stock exchanges. Swan Energy said the listing process is awaiting approval from stock exchanges.
trading is closed
Let us tell you that the trading of Reliance Naval and Engineering Limited has been closed for a long time. In the year 2010, this share of Rs 120 has caused huge loss to the investors. In March 2023, the price of this share fell by 99 percent to Rs 1.61. Talking about the shareholding pattern, there are no promoters but public shareholders hold 100 percent stake. Talking about public shareholders, LIC holds 7.93 percent or 58,46,5899 shares.
Rs 2100 crore deal
Let us tell you that NCLT approved the bid of Hazel Infra Limited for Anil Ambani’s company Reliance Naval and Engineering Limited under the Corporate Insolvency Resolution Process. Hazel Infra Limited is an SPV (Special Purpose Vehicle) in which Swan Energy holds 74% stake and Hazel Mercantile Limited holds 26% stake. This deal was worth Rs 2100 crore.
