eliance Services and Holdings,Mukesh Ambani’s firm,has acquired 17.18 crore equity shares or 2.71 per cent stake in Reliance Industries on September 13.The move follows Mukesh Ambani’s announcement at the 42nd annual general meeting(AGM)in August that Saudi Aramco would acquire 20 per cent stake in RIL’s oil-to-chemical business for an enterprise value of $75 billion.With Saudi oil major Aramco buying stakes in Reliance Industries oil-to-chemical business and uncertainty over likely changes in the equity structure of the company,Mukesh Ambani has increased his stake in RIL.
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