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Promoter stake falls below 50% in Anil Ambani's Reliance Capital, RCom

Panic selling by lenders of Anil Ambani-led Reliance group companies has led to the promoter's stake in Reliance Communications (RCom) and Reliance Capital slipping below 50%. Last week, NBFCs led by L&T Finance and certain entities of Edelweiss Group, sold 31.81 crore pledged shares worth Rs 552.17 crore of ADAG Reliance Group, leading to erosion in market cap worth Rs 13,000 crore. While promoter holding in Reliance Capital came down to 47.90% from the earlier 51.99%, promoter holding in RCom was down to 49.71% from 52.96%.

Read More at Business Today News date : 12 Feb 2019, Tuesday

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