Mukesh Ambani invested 2700 cr and get 270 cr share (60%) at face value 10 in Feb 2006.
RIL invested 4050cr and get 67.5 cr share (15%) at ipo price 60 in April 2006.
RPL Promoter(Mukesh+RIL) owned 75 % of RPL for 2700+4050=6750 cr.
Now RPL promoter is holding 70.38%.
RPL promoter sold 4.62% holding (20.79 cr shares) at average of 225 for total 4700 cr cash in 2007.
Their net investment left in RPL is 6750-4700=2050 cr.
Now when RPL is on the verge of performing and to reach its real valuation in next year, these RPL promoter start another unfair game (although not illegal as per loopholes of system).
They want to merge RPL at its three year back price with RIL.
Plz be noted that RIL Sep08 net profit was 4122 cr and it is decreased to Dec 08 net profit 3501 cr due to global slowdown.
EPS of year 2008 : 133
Current EPS : 100
Growth is decreased by -25%
Beside there is loss of 1100 cr which is not reflected in result data but mentioned in notes.
Due to global scenario, net profit of RIL will either further decrease or remain stable but difficult to increase.
But RPL has just started production. With zero production it was fairly above 70 for last three years. But if there is no considerable volatility in global scenario, RPL price shall be appreciated to around 120-130 in next year due to its one year production.
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