Reliance Industries Ltd.

The Competition Commission of India (CCI) has approved the acquisition of shareholding in Sterling and Wilson Renewable Energy by Reliance New Energy Solar (RNESL), a wholly owned subsidiary of Reliance Industries (RIL). Reliance New Energy is seeking to acquire 40 percent of the total voting equity share capital. However, acquisition can go up to 51.07 per cent of equity share capital of Sterling and Wilson Renewable Energy in the eventuality of full acceptance of the open offer.

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.