Reliance Capital acquires 8.7% of Trent for Rs.212 mn

MUMBAI (makemystocks): Anil Dhirubhai Ambani Group firm, Reliance Capital (BOM:500111) has bought 386,582 shares of Trent Ltd (BOM:500251) for Rs.212.62 million via rights issue.

In a filing with the Bombay Stock Exchange, Trent, which is controlled by Tata Group, said that Reliance Capital Asset Management, part of the Anil Dhirubhai Ambani group, had acquired 8.68 percent in the company.

The Reliance Capital unit acquired the shares on August 31, for 212.6 million rupees ($4.6 million), the company statement said on Friday.

Reliance Capital traded at Rs.781 up 0.78%, while Trent limited was buoyed by the stake sale and traded with robust gains of over 5% at Rs.1127 on BSE today.