With family and group firms jointly losing more than half of the shares, in January –March quarter, Reliance Communications Ltd. promoters stake has declined to 22 percent.
However, in the quarter October – December 2018, the promoters and promoter group of in-arrears Reliance Communications had 53.08 percent in the company. According to the shareholding pattern disclosure stated by the firm; in the third quarter of 2018-19, the Ambani family jointly held 145.48 crore equity shares which subsequently declined to 59.79 crores in the last quarter of the same fiscal.
The equity holding of the Reliance Wind Turbine Installators Industries and Reliance Ornatus Enterprise and Ventures has significantly come down to 85 lakhs and 9.2 crores, respectively, from 30 crore shares held by each of them in the third quarter.
The debt-ridden company of around Rs. 45,000 crores, has recently approached National Company Law Tribunal to call upon the insolvency against it as the firm has been unable to sell its assets and pay back the lenders. However, most of the promised shares were sold by lenders in quarter January-March 2019.