Reliance Industries' chairman Mukesh Ambani has infused a massive Rs 8,575 crore into the port and terminal company, Reliance Ports & Terminals Ltd (RPTL), and Reliance Gas & Transportation Infrastructure Ltd (RGTIL) in the fiscal year 2012-13, said a media report.
The report suggested that equity worth Rs 3,000 crore was infused into RPTL, while Rs 1,575 crore went into RGTIL. RGTIL also received another Rs 4,000 crore from investor companies owned by Ambani as subordinate debt.
Source added that the fund infusion came after these companies—RGTIL and RPTL—saw huge erosion in their market value after demerging their investment divisions into separate companies in a complex process last year.
The net worth of RPTL had declined to Rs 10,377 crore as on December 31, 2011, from Rs 22,566 crore as on June 30, 2011 after the impairment of Rs 12,300 crore.