Reliance Power announced 3:5 Bonus shares

Reliance Power on 24th February announced to give 3 bonus shares for 5 share held by the non promoters. In its board meeting on Sunday i.e. 24th February, 2008 the board considered and approved to issue 3 bonus shares for every 5 shares held by the non promtoers. With this announcement, the non -promoters portion will go up from 10 % to 15 % and Anil Ambani's ADAG group shareholding will come down from 45 % to 40 %. Relaince energy share holding will remain at 45 %. This will have a positive impact on the shareholders of reliance power and the price may go up today.