M&A Critique

Reliance preparing to create the largest Indian Green Energy Company

Mr. Mukesh Ambani, chairman of Reliance Industries Limited (RIL) at its last annual general meeting for FY 21 announced RIL’s ambitious plan relating to the renewable energy business. RIL aims to be amongst the largest integrated renewable energy manufacturer in the world.

Recently, Reliance Industries Limited announced the transfer of “Gasification Undertaking” to a wholly-owned subsidiary. The announcement came soon after RIL cancelled the proposed deal with Saudi Aramco and cancelled the proposed transfer of its Oil-2-Chemical business to wholly-owned subsidiary which was being carried out to facilitate the deal.

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Aniruddha Jain