Reliance Industries Consolidates Treasury Stock Under One Entity

Reliance Industries Ltd. has undertaken an internal reorganisation of treasury shares via a scheme of arrangement. 17.19 crore non-voting shares held by subsidiaries of the company, and classified as public shareholding, have been merged with Reliance Services and Holdings Ltd., a company controlled by Petroleum Trust, the company said in a media statement. The Petroleum Trust has been classified as a promoter entity group since 2002, the statement said.