The boards of Anil Ambani-controlled Reliance Power Ltd (RPL) and its affiliate firm Reliance Natural Resources Limited (RNRL) on Sunday approved a Rs 50,000 crore market value (about $11 billion) merger deal, marking the latest episode in a corporate saga after the Ambani brothers reached an agreement over a gas dispute.

The boards approved an exchange ratio of 1 equity share of Reliance Power for every 4 equity shares of RNRL, based on valuation made by KPMG. Read the full story