Today for AAA Project Ventures, a Reliance Anil Dhirubhai Ambani promoter group company 22.6 million equity shares are allotted by Reliance Infrastructure for Rs 2,095 crore. These were issued to them not in favor of changeable warrants.

The company has assumed that this new equity capital has elevated the promoter group's holding. It has increased near about 5 percent, before it was 43 percent.

Last year during April 19.6 million equity shares were exchanged by the Promoter Company and there was an investment of Rs 1,821 crore made in the company.

Moreover this investment was made as a part of the 42.9 million warrants which were allotted by the company in July 2009.

AAA Project Ventures were liberated to one equity share of Rs 10 for each warrant, and the issued price of each share was Rs 929.

However today in trading, the stock of Reliance Infrastructure went down by 3.8 per cent and was closed at Rs 826 per share. Yesterday when the company had made a declaration of warrant conversion, its stock rose by 0.3 per cent.