Reliance Industries has acquired 100% equity stake of Lakadia B Power Transmission (LPTL) for an aggregate consideration of Rs 6.73 crore. With this acquisition, LPTL has become a wholly owned subsidiary of the company.
Earlier, the company’s board had approved the acquisition of 100% equity stake of Lakadia B Power Transmission from REC Power Development and Consultancy in accordance with the terms of the tender awarded to the company for establishment of Transmission System for Augmentation of transformation capacity at 765/400kV Lakadia Substation for an aggregate consideration not exceeding Rs 8 crore.
Reliance Industries (RIL) is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
