Reliance Industries Ltd.

Reliance Industries has acquired 100% equity stake of Reliance New Energy Battery. With this acquisition, Reliance New Energy Battery has become a direct wholly owned subsidiary of the company.

Earlier, the company had received approval from board of directors to acquire 100% equity stake of Reliance New Energy Battery from Reliance New Energy (RNEL), for an aggregate consideration of Rs 1 lakh.

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.