Mukesh Ambani's Reliance sells 35000000 shares of this company, earns whopping amount of Rs...

Mukesh Ambani's Reliance Industries has earned a whopping amount of Rs 7,703 crore after selling 3.5 crore shares of Asian Paints. The transaction was carried out via block deals in the pre-market session on Thursday, and saw approximately 3.64 percent of Asian Paints’ equity change hands. The Ambani-led firm said it still retains a minority stake of 87 lakh shares in the paint maker after this sale. 

Currently, Asia Paints has a market cap of Rs 2.13 lakh crore, as of June 12. The share of the paint company closed at Rs 2,225 on Thursday. "Please note that 3.5 crore equity shares of Asian Paints held by Reliance Industries Limited through Siddhant Commercials Limited have been sold today at a price of Rs. 2,201 per share, leaving a balance of 87 lakh equity shares of Asian Paints," said RIL in a stock exchange filing.

Reliance said it sold 3.5 crore equity shares of Asian Paints at a price of Rs 2,201 apiece, translating into a total deal size of Rs 7,703.5 crore. The sale was conducted through its wholly owned subsidiary, Siddhant Commercials Limited

Mukesh Ambani's net worth

According to Forbes, the Indian billionaire Mukesh Ambani has a net worth of USD 109 billion. He is still the richest man in Asia. His Reliance has a market cap of Rs 19.48 lakh crore. Its share closed at 1,439.50 on June 12.

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