Lenders start selling Anil Ambani’s shares to companies


After the bankruptcy petition of Mumbai-RCom (Reliance Communications) started the bad days of other companies of Anil Dhirubhai Ambani group. After the market capitalization of Anil Dhirubhai Ambani group companies declined by about Rs 12,600 crores this month, the lenders have started selling the shares pledged.
According to information given to the stock exchange, the lenders have sold 5.5 billion shares of Reliance Power, Reliance Infrastructure, Reliance Communications and Reliance Capital. After giving Reliance Communications a bankruptcy application, the confidence of the investors on other group companies has been reduced. The effect of the sale of these four companies is also on other group companies.
This week, after the massive thrashing of Reliance Communications shares, the market capitalization of the company has dropped by more than 60 per cent, while Reliance Power and Reliance Infra’s shares have plummeted by nearly 60 per cent. Reliance Capital’s share has fallen by more than 30 per cent this week.