Reliance Industries Limited — JV/Acquisition, 16-01-2025: Acquisition

Reliance Industries has acquired a 100% equity stake in Reliance New Energy Battery Limited (RNEBL) from Reliance New Energy Limited for an aggregate consideration of Rs. 1 lakh. This strategic move is aimed at enhancing the company’s energy storage manufacturing capabilities, particularly in Advanced Chemistry Cells. RNEBL, incorporated on January 1, 2025, will become a direct wholly owned subsidiary, although it has yet to commence commercial operations. The acquisition reinforces Reliance’s focus on the energy storage sector and is expected to be completed by the end of January 2025.