This transaction results in LPTL becoming 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," the Mukesh Ambani-owned company said in an exchange filing.
Reliance Industries is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
Reliance Industries had 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. RIL's Q3 revenue grew 7.7% to Rs 267,186 crore, while EBITDA climbed 7.8% to Rs 48,003 crore.
Shares of Reliance Industries rose 0.06% to settle at Rs 1216.95 on Friday, 14 February 2025.