Reliance Infra Share Price : Reliance Infrastructure, the integrated power utility of Anil Ambani’s Reliance Group, on Saturday announced the merger of its subsidiary Reliance Velocity Limited (RVL) with itself Anil Ambani-led Reliance Infrastructure said its board of directors has approved the scheme of arrangement between the company and Reliance Velocity Limited and their respective shareholders, which will result in the merger of its subsidiary company with Reliance Infra.
Reliance Infra Share Today
Reliance Infra Share It was announced last year
According to Reliance Infrastructure’s exchange filing, in December last year, Reliance Infra had announced that the Anil Ambani-led company has formed a new subsidiary company, which does not come under the purview of related party transactions, as Reliance Velocity deals with the automobile and allied business activities industry.
What is the purpose of the merger
With this merger, Reliance Velocity will cease to exist. Reliance Infra said the merger is part of an effort to rationalise and consolidate the structure of the Reliance Group and will result in improved efficiency and cost savings.
What is the business of Reliance Infrastructure
Anil Ambani-led Reliance Group’s Reliance Infrastructure offers engineering and construction services for power, roads, metro rail and other infrastructure sectors. The company is involved in the implementation, operation and maintenance of several projects in the defence sector and infrastructure sector.
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