reliance-becomes-a-trillion-rupee-company

Reliance becomes a trillion rupee company

India's biggest private sector company just got bigger by merging with IPCL.
On March 11, Reliance Industries determined the swap ratio for its merger with Indian Petrochemicals Corporation IPCL, thereby creating a company with combined sales of a trillion rupee $23 billion. IPCL shareholders will get one Reliance share for every five IPCL shares they hold.

Reliance chairman Mukesh Ambani says The merger is earnings accretive for Reliance shareholders, while providing IPCL shareholders with an opportunity to participate in Reliance's diversified business portfolio.

For the last complete fiscal year ended March 31, 2006, Reliance turnover was Rs891 billion on which it earned a net profit of Rs132 billion. IPCL turnover was Rs123 billion on which it earned a net profit of Rs12 billion. The combined...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222