Reliance Industries Limited — JV/Acquisition, 28-11-2024: Acquisition

Reliance Finance and Investments USA LLC has acquired a 21% stake in Wavetech Helium, Inc. for USD 12 million. Wavetech is engaged in helium gas exploration and production, which is critical for medical, scientific, and aerospace applications. This acquisition aligns with Reliance's strategy to enhance its presence in low carbon solutions and tap into the growing helium demand, especially in semiconductor manufacturing driven by AI and data centers. This strategic move is expected to strengthen Reliance's exploration and production capabilities in a key sector.