Reliance Capital Ltd.

Indian Stock Market

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History of Reliance Capital Ltd.


- The Comp. was incorporated on 5th March, & obtained the Certificate for Commencement of Business on 27th March. It was promoted by Reliance Industries Ltd.


- The Comp. obtained permission from SEBI to take up merchant banking activities. The Comp. undertook portfolio management services for reputed corporate clients.

- 7,000 No. of equity shares subscribed for by signatories to the Memorandum of Association.


- 199,93,000 No. of equity shares of Rs 10 each then issued at a par of which 9,93,000 shares were allotted to Indian Resident Directors, their friends, etc. 18,00,000 shares were allotted to Reliance Industries limited 18,00,000 shares were allotted to investment companies in RIL Group. The remaining 154,00,000 shares were offered for public subscription during April 1990, of which 10,00,000 shares were allotted on preferential basis to employees [including Indian working directorss]/workers of Company. 77,00,000 shares were allotted on preferential basis to shareholders of Reliance Industries, limited The balance 67,00,000 shares were allotted to public.


- 18,70,000 No. of equity shares allotted to Arsina hotels on its amalgamation in January. 218,70,000 Rights equity shares [Prop. 1:1, Prem. Rs 30 per shares] issued. Another 9600 shares issued to employees [only 7500 shares taken ups].


- The Comp. issued 125,00,000-12% non-convertible unsecured redeemable debentures of Rs 100 each with one non-detachable warrant entitling the holder to apply for 2 equity shares of Rs 10 each at a premium of Rs 40 per shares. Accordingly 250,00,000 shares were allotted on conversion of warrants.


- Pursuant to a resolution at the Extra Ordinary General Meeting held at 12th February, the Comp. issued 137,00,000-12% non-convertible redeemable debentures of Rs 100 each to promoters having one warrant entitling the holder to receive 2 equity shares to Rs 10 each at a premium of Rs 40 per share within 12 months from the date of allotment. Accordingly 274,00,000 No. of equity shares were allotted.


- The Comp. issued 142,29,500 Rights equity shares of Rs 10 each at a premium of Rs 40 per share in proportion 1:5. Another 429,57,200 shares at a premium of Rs 130 per share were issued through a Prospectus as follows: On firm allotment basis: [1s] 107,14,300 shares to promoters, directors, etc., [iis] 52,26,342 shares to Ind. Fin. Association [iiis] 17,70,000 shares to Indian Mutual Funds. [ivs] 78,600 shares to NRIs.

- Of the remaining, following were reserved for allotment on a preferential basis: [is] 12,02,158 shares to Ind. Fin. Institutes [iis] 46,58,500 shares to Mutual Funds [iiis] 76,35,600 shares to NRIs on non-repatriation basis [ivs] 15,000 shares to employees.

- The Comp. plans to diversify its activities into money market operations, project finance advisory services, foreign exchange and every sphere of financial services.

- 65,690 shares allotted.


- The Comp. had been allotted a plot by Mumbai Metropolitan Region Development Authority [BMRDAs] in the Bandra Kurla Complex, Mumbai.

- During the year under review, the Comp. sponsored the launch of the two maiden schemes of Reliance Capital Mutual Fund.

- Reliance Share and Stock Brokers limited [RSSBs], the company 100% subsidiary engaged in the broking business, also made satisfactory progress during the year under review.

- The Company Fixed Deposit programme was accorded CARE 'AAA' by Credit Analysis & Research Limited during the year.


- Reliance Capital [RCLs] has shelved its plans to enter into auto finance business because of sluggish trend in the auto finance segment.

- The Comp. has received an AAA rating from Credit Analysis and Research Ltd., for proposed non-convertible debenture issue incidentally, its fixed deposit programme was also rated AAA.

- The Comp. sought a fresh rating raising the amount of proposed issuer to Rs. 300 crore.

- The Comp. has also become the first non-banking financial company to receive approval to act as a depository participant.

- The Comp. has been granted approval by Securities & Exchange Board of India[SEBIs] to act as an `Approved Intermediary' under the provisions of SEBI Securities Lending Scheme, 1997.

- The Comp. has appointed Spectrum Corporate Services Limited, as its Share Transfer Agents with effect from March 5, 1997.


- The Company bond/debenture programme is rated by Credit Analysis & Research Limited as CARE 'AA +', indicating that the instruments carrying this rating are judged to be of high quality by all standards, and as high investment grade.

- During the year, the Comp. suspended acceptance/renewal of fixed deposits. At the end of financial year, there were 705 deposits aggregating Rs. 0.84 crores due for repayment but which remained unclaimed on the due dates.


- Reliance Capital [RCLs] has decided to move away from the traditional non-banking finance Comp. [NBFCs] mould & convert itself into a special purpose vehicle-cum-venture capital outfit, which will develop infrastructure projects & invest in infotech, the Internet, media and bio-tech start-ups.


- Reliance Capital Ltd has annulled the forfeiture of 2200 equity shares which were earlier forfeited by Comp. due to non-payment of allotment monies. Hence members should note that the above mentioned annulled shares will be good delivery in the market.


-Reliance Capital has forfeited 12,61,455 Equity shares due to non-payment of allotment or call money.

-Reliance capital, a NBFC of Reliance group is financing Reliance Indiamobile connections.

-Securities & Exchange Board of India has exempted Reliance Capital Ltd from making an open offer to the shareholders of BSES following its proposed acquisition of stake in the power generation company.

- Shifted the Company registered office from Avdesh House, 2nd Floor, Pritam Nagar 1st Slope, Ellisbridge, Ahmedabad 380006 in the State of Gujarat to Village Meghpar/Padana, Taluka Lalpur, Dist. Jamnagar 361280, in the State of Gujarat.


--Reliance Capital Limited acquires 11,24,209 shares representing 5.23% of total shareholding/voting rights of Adlabs Films Limited through open market.

-The Acquirer is making an Open Offer to the public shareholders of Reliance Capital Ltd ['Target Company's] to acquire upto 5,14,61,249 fully paid up equity shares, representing 20% of fully expanded voting equity capital of Target Comp. [including the entire share allotment as well as warrantss] at a price of Rs 231 [Rupees Two hundred & thirty one onlys] for each Share of Target Comp. ['Offer price's] to be paid in cash in accordance with the Regulations.


-Reliance Capital Forays into Life Insurance


- Reliance Capital Ltd has informed that Shri Anand Bhatt & Shri P. N. Ghatalia have been appointed as Independent Directors on the Board of Comp. with effect from September 15, 2008.

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