Reliance Industries has invested Rs 1,00,000 in cash in 10,000 equity shares of Rs 10 each of Reliance New Solar Energy (RNSEL), a newly incorporated wholly owned subsidiary. RNSEL is incorporated to undertake activities relating to solar energy. RNSEL is yet to commence its business operations.
The investment in RNSEL does not fall within related party transaction and the promoter / promoter group / group companies do not have any interest in RNSEL. 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.
