Reliance Industries Ltd.

Reliance Industries has received approval from board of directors to acquire 100% equity stake of Reliance New Energy Battery (RNEBL) from Reliance New Energy (RNEL), for an aggregate consideration of Rs 1 lakh. RNEBL is a step-down wholly owned subsidiary of the Company and post this acquisition RNEBL will become a direct wholly owned subsidiary of the Company.

RNEBL was incorporated in India on January 1, 2025 with an objective of undertaking business of manufacturing of battery cells, packs and containers and provide energy storage systems and solutions to various end-users. RNEBL is yet to commence commercial operations.

The said acquisition will enable the Company to engage in the development of energy storage manufacturing capabilities, including those utilising Advanced Chemistry Cells.

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.