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Reliance Industries informs about outcome of board meeting

07 May 2022 Evaluate
Reliance Industries has informed that the Board of Directors of the Company, at its meeting held on May 6, 2022, approved the Scheme under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. RNEL was incorporated with the object of undertaking new energy / renewable energy initiatives. The Company has since decided that these initiatives will be undertaken in the Company itself. Hence it has been decided to amalgamate RNEL with the Company. The Appointed Date of the Scheme will be June 7, 2021 (date of incorporation). The equity shares of RNEL are not listed on Stock Exchanges. Being a merger of a wholly owned subsidiary with the Company, it is a related party transaction at arm's length; and no consideration is being paid either in cash or by issue of shares and accordingly, there will be no change in the shareholding pattern of the Company.

The above information is a part of company’s filings submitted to BSE.

Reliance Industries Share Price

1308.85 29.15 (2.28%)
10-Jul-2026 16:59 View Price Chart
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