Reliance Industires fixes record date for IPCL amalgamation

The board of directors of Reliance Industries (RIL) at its meeting held on Sep. 10, 2007, fixed Oct. 12, 2007 as the record date, for determining the shareholders of the Indian Petrochemicals Corporation (IPCL ) who will be entitled to receive the shares of RIL.

According to the scheme of amalgamation RIL will issue and allot fully paid up equity shares of Rs 10 each to the shareholders of IPCL as on the record date in the ratio of 1 share for every 5 shares of IPCL.

The equity share certificates of IPCL will not be called back by RIL for exchange with the equity shares of RIL and the certificates issued by IPCL will not be tradeable or negotiable on and from the record date.