RIL feud fire doused; investors richer by Rs 100 bn
Saturday, June 18 2005 13:11 Hrs (IST) - World Time - 
New Delhi:
The seven-month long raging fire between Ambani siblings, which got doused today (Jun 18, 2005), had no effect whatsoever on the die-hard investors in the Reliance Industry Ltd as they pocketed Rs 10,000 crore since the fuse was pulled on November 18 by the elder brother Mukesh raising "ownership" issues.
Spotlight: Battle of Ambanis -- Will they stick or split?
Between November 22 and announcement of the settlement by mother Kokilaben, the flagship RIL's market capitalisation rose by about 13 per cent to Rs 83,729.05 crore from Rs 74,399 crore, as per the latest scrip price of Rs 600.85, which was 52-weeks high.
Discuss this topic
However, Nimesh Kempani of Morgan Stanley, who helped ICICI chief K V Kamath in the valuation process, is believed to have pegged the RIL's share at Rs 750.
The "proxy" battle, fought through "cronies" and media, saw the investors fortune losing in IPCL, which would go to Mukesh. Its market capitalisation fell to Rs 4,035.12 crore yesterday from as high as Rs 4,629.41 crore on November 22.
In the case of other listed entities, Reliance Energy and Reliance Capital, which Anil Ambani would own, the wealth creation was phenomenal.
Reliance Capital's m-cap surged by close to 64 per cent to Rs 3,032.92 crore yesterday from as low as Rs 1,849.12 crore on November 22.
In the case of Reliance Energy, m-cap rose by nearly three per cent to Rs 11,553.62 crore yesterday from Rs 11,238.38 crore on November 22.
Kempani is believed to have valued Reliance Infocomm, a privately held company, in the range of Rs 23,000-25,000 crore.
PTI
Related Stories
Govt happy over Reliance settlement: Chidambaram
RIL board headed by Mukesh approves demerger
Ambani brothers Reliance ownership row resolved
Anil resigns as MD of RIL; not to attend board meet
| 
