Wednesday, June 29 2005 11:55 Hrs (IST) - World Time -

Mumbai: With Reliance Industries Ltd (RIL) deciding to convert its preference shares in Reliance Infocomm to equity capital, the worth of Reliance group's telecom company is being now valued at over Rs 22,500 crore.

RIL Board's decision yesterday (Jun 28, 2005) to allot 287.76 equity shares of the face value of Re 1 each would enhance the Reliance Infocomm's share capital to Rs 703.76 crore from Rs 416 crore, as per the RIL's last year's balance-sheet, analysts said in Mumbai.

With RIL deciding to allot the equity shares at a premium of Rs 31, the equity value of the telecom company can now be valued at over Rs 22,500 crore, they added.