Reliance Infrastructure, through a regulatory filing on Friday, informed investors that its wholly owned subsidiary, Reliance Aerostructure Ltd (RAL), will transfer 2% equity shares in Dassault Reliance Aerospace Ltd (DRAL) to its joint venture partner, Dassault Aviation.
Following the transaction, Dassault Aviation’s stake in DRAL will increase from 49% to 51%, making it the majority shareholder, while RAL’s holding will reduce to 49%. The consideration for the sale has been pegged at around ₹175.96 crore based on independent valuation.
With this development, DRAL will cease to be a subsidiary of Reliance Infrastructure and will instead be classified as an associate company. The stake sale is expected to be complete by November 01, 2025, as per the exchange filing.
Dassault Aviation, a French company engaged in the businesses of military and business jets and is the integrator of Rafale & Falcon aircraft, as well as the manufacturer of airframes and subsystems of these aircraft. The buyer does not belong to the promoter/promoter group companies.
The filing showed that Dassault Reliance Aerospace contributed a turnover of ₹69.93 crore in FY25, about 0.23% of Reliance Infra’s consolidated revenues, and had a net worth of ₹47.13 crore, about 0.33% of consolidated net worth at the end of March 31, 2025.
Anil Ambani clarifies on Bank of Baroda action
The company earlier in the day clarified on the recent action by Bank of Baroda to classify the loan account of Reliance Communications Limited and Mr. Anil D. Ambani as “fraud,” stating that it has no impact on the business operations, financial performance, shareholders, employees, or any other stakeholders of Reliance Infrastructure.
In a statement issued on his behalf, a spokesperson said the bank’s action pertains to matters dating back more than 12 years, around 2013, as per disclosures and records available in the public domain.
The spokesperson further emphasized that Anil Ambani served only as a Non-Executive Director on Reliance Communications’ board from its inception in 2006 until his resignation in 2019.
“He was never an Executive Director or a Key Managerial Personnel (KMP) of the company and had no role whatsoever in the day-to-day operations or decision-making of the company,” the statement added.
“Mr. Anil D. Ambani categorically denies all allegations and charges and shall pursue remedies available to him in accordance with legal advice,” the spokesperson added.
Earlier, State Bank of India and Bank of India also classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
