Reliance Industries has invested Rs 1 lakh in cash in 10,000 equity shares of Rs 10 each of Reliance New Energy Solar (RNESL), a newly incorporated wholly owned subsidiary. RNESL is incorporated to undertake activities relating to solar energy. RNESL is yet to commence its business operations.
The investment in RNESL does not fall within related party transaction and the promoter/ promoter group/ group companies do not have any interest in RNESL. No governmental or regulatory approvals were required for the said investment.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
