Mumbai, March 10: Reliance Energy (REL) is planning to change its name.

The company will be now called Reliance Infrastructure to reflect the widening ambit of its activities.

REL’s board of directors today cleared the plan to rechristen the company. The company will shortly seek shareholders’ approval for the new name.

REL said in a statement that apart from being the largest private player in the electricity sector, it had emerged as a leader in all areas of infrastructure business.

“The new name Reliance Infrastructure will adequately reflect the current nature of the businesses in the company fold and is in line with the company’s vision to tap and play a vital role in the emerging potential for infrastructure development in the country,” a company official said.

Reliance Energy is now the largest private power sector engineering, procurement and construction (EPC) player in the country with an order book of over Rs 8,000 crore. It is also the largest power transmission infrastructure developer in the private sector.

Simultaneously, the company is the largest private sector metro rail project developer in the country with a 12-km corridor in Mumbai and 22.7-km airport link in Delhi. It was recently chosen as the preferred bidder to construct the 25-km long, country’s longest, bridge over sea link (MTHL) in Mumbai.

REL is also constructing the country’s tallest 100-storey corporate park in Hyderabad and has plans to establish a special economic zone (SEZ) in Noida and Mumbai.

It is also in advanced stages of bidding for several metro, airport, highway and energy distribution projects across the country.

“The new name reflects the branding philosophy followed by the ADA Group, where name signifies the space in which business operates and creates a sharper brand presence among the stakeholders,” REL added.

Initially known as BSES Ltd, the company’s name was changed to REL in 2003 after the Reliance group increased its stake through an open offer.

The REL stock, which has been under pressure over the past few trading sessions, today ended lower at Rs 1,260.45. At the current levels, the scrip is trading nearly 52 per cent off its 52-week high of Rs 2631.70.