Acquisitions9 May 2024, 12:07 am
Reliance Industries Acquires 100% Equity Stake of Reliance Chemicals and Materials Limited for Rs. 314.48 crore
AI Summary
Reliance Industries Ltd. has acquired the 100% equity stake of Reliance Chemicals and Materials Limited, a wholly owned subsidiary, for Rs. 314.48 crore. RCML was incorporated to undertake business in petrochemicals, Vinyls, Hydrogen & its derivatives, Rare & Industrial gases, Bio energy products & carbon fibre. The transaction was between two wholly owned subsidiaries of the same company and was completed without the need for regulatory approvals. RCML is now a direct wholly owned subsidiary of Reliance Industries Ltd.
Key Highlights
- Reliance Industries acquired the full equity stake of Reliance Chemicals and Materials Limited
- The transaction was worth Rs. 314.48 crore
- Reliance Chemicals and Materials Limited is now a direct subsidiary of Reliance Industries Ltd.
- The acquisition did not require any regulatory approvals
- RCML deals in various sectors such as petrochemicals, gases, and bio energy products