RPower promoter group entity sells shares worth Rs 858 crore

A promoter firm of Reliance Power has sold shares worth over Rs 858 crore to a group entity.

Reliance Infradevelopment offloaded a total of 18 crore shares over three days starting from March 20. The shares were sold in three tranches to Reliance Wind Turbine Installators Industries at different prices.

Each tranche had six crore shares.

Shares worth Rs 858.3 crore have been offloaded by Reliance Infradevelopment, according to a filing by Reliance Power to the NSE today.

The transactions are "inter-se transfer amongst qualifying persons," as per the filing.

Now, Reliance Infradevelopment holds 5.97 per cent stake in Reliance Power while Reliance Wind Turbine Installators Industries has acquired shareholding of 6.42 per cent.

Shares of Reliance Power declined nearly two per cent to close at Rs 47.15. It had touched an intra-day high of Rs 47.75.

Reliance Power is part of the Anil Ambani-led Reliance group, which has presence in diverse sectors including telecommunications and financial services.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)