Mukesh Ambani buys another company, its name is…, the company deals in…

Reliance Industries has been actively investing in the energy sector.

Reliance Industries: Mukesh Ambani-led Reliance Industries Limited on Friday, February 14 announced its procurement of Lakadia B Power Transmission Limited (LPTL) for a consideration of Rs. 6.73 crore.

This transaction has made LPTL a wholly owned subsidiary of Reliance Industries.

“The Company has today, at 6:03 P.M. (IST), acquired 100% equity stake of Lakadia B Power Transmission Limited (LPTL) for an aggregate consideration of Rs. 6.73 crore. With this acquisition, LPTL has become a wholly owned subsidiary of the Company,” Reliance Industries said in an exchange filing.

It is a significant move towards strengthening India’s renewable energy infrastructure.

Key Project Details:

• Location: Lakadia Pooling Station, Gujarat
• Objective: Augment transformation capacity for renewable energy evacuation
• Estimated Project Cost: Rs 512.58 crore
• Timeline: 24 months

LPTL is involved in the development and operation of power transmission infrastructure and after this acquisition, it is expected to enhance Reliance’s presence in power transmission and further contribute to its long-term growth objectives. More details regarding the strategic benefits of the acquisition and future plans for LPTL are awaited.

This acquisition comes at a time when Reliance Industries continues to position itself as a key player in both the traditional energy and renewable energy sectors, reflecting its ambitions to lead in the global energy transition.

Reliance Industries has been actively investing in the energy sector as part of its strategy to diversify and strengthen its operations. The addition of LPTL’s assets aligns with the company’s ongoing efforts to drive growth and innovation in the energy and infrastructure sectors.

Reliance Industries is the largest private sector corporation in India with its activities covering hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

Reliance Industries reported a 12% year-on-year increase in consolidated net profit to a record high of Rs 21,930 crore in the quarter ended December 31, 2024. The shares of Reliance Industries rose 0.06% to settle at Rs 1216.95 on Friday, 14 February 2025, reported BS.