Reliance Capital ups stake in RBNL by 2% in 3 months

MUMBAI: Reliance Capital has increased its stake in the group?s entertainment arm Reliance Broadcast Network Ltd. (RBNL) by 2.03 per cent over the last three months.

The investment arm of Reliance ADAG has in tranches picked up the additional equity through market purchase to now hold 9.91 per cent in RBNL, the company that owns and operates a clutch of TV channels and FM radio brand Big FM.

Reliance Capital?s most recent purchases were on 5 and 6 July, buying a total of 506,161 shares of RBNL, amounting to 0.64 per cent stake in the company, for Rs 25.81 million.

Reliance Capital now owns a total of 7.87 million shares in RBNL. The company held 6.26 million shares earlier, according to data provided on the BSE.

Reliance Group held 7.88 per cent stake in RBNL till 31 March 2012. While Reliance Land owned 44.57 per cent, AAA Entertainment held 10.38 per cent and Reliance ADA Group Trustee had 2.54 per cent stake in the company.

RBNL scrip ended Friday at Rs 51 per share, up 0.20 per cent from its previous close.