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24 August, 2019 08:07 IST
Reliance Industries acquires 5% stake in Eros International
Source: IRIS | 08 Aug, 2018, 09.51AM
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Reliance Industries (RIL) had earlier intimated on February 20, 2018 that Reliance (Q,N,C,F)* Industrial and Investment Holdings (RIIHL), a wholly owned subsidiary of the company, had entered into
an agreement with Eros International Plc. agreeing to subscribe, subject to requisite approvals, to 5% equity stake on a fully diluted basis of Eros International Plc.

RIL has now completed the acquisition by subscribing to 3,111,088 'A' ordinary shares at USD 15 per share for cash aggregating to USD 46.67 million.

The stock had outperformed the market over the past one month till Aug. 07, 2018, rising 22.02% compared with the Sensex's 5.63% rise. It outperformed the market in past one quarter, gaining 24.91% as against 6.98% rise in the Sensex.

Shares of the company gained Rs 5.2, or 0.44%, to trade at Rs 1,188.75. The total volume of shares traded was 37,222 at the BSE (9.43 a.m., Wednesday).

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