Mukesh Ambani's Reliance Industries buys new company for Rs 6.73 crore, it is called...

Reliance Industries Limited, led by Mukesh Ambani, made an important move in the energy sector on Friday, February 14, by acquiring Lakadia B Power Transmission Limited (LPTL) for a total consideration of Rs 6.73 crore. This acquisition means that LPTL is now a wholly owned subsidiary of Reliance Industries.

According to an exchange filing by Reliance Industries, the company acquired a 100% equity stake in LPTL at 6:03 P.M. IST. With this deal, LPTL becomes an integral part of Reliance Industries, which aims to strengthen India’s renewable energy infrastructure with this acquisition.

Key Project Details:

Location: Lakadia Pooling Station, Gujarat
Objective: To increase transformation capacity for the evacuation of renewable energy
Estimated Cost: Rs 512.58 crore
Timeline: 24 months

LPTL plays a key role in developing and operating power transmission infrastructure. With this acquisition, Reliance aims to enhance its presence in the power transmission sector, which is expected to contribute to the company’s long-term growth and further its renewable energy ambitions.

Reliance Industries has been steadily positioning itself as a major player in both traditional and renewable energy sectors. This acquisition comes as part of the company’s strategy to be a leader in the global energy transition. By investing in renewable energy infrastructure, Reliance is setting the stage for significant growth and innovation in the energy and infrastructure sectors.

The company’s ongoing investments in the energy sector highlight its ambition to diversify and strengthen its operations. In addition to hydrocarbon exploration, petroleum refining, and petrochemicals, Reliance has been making strides in renewables like solar and hydrogen, as well as expanding its retail and digital services.

Reliance Industries, the largest private sector corporation in India, reported a 12% year-on-year increase in its consolidated net profit, reaching a record Rs 21,930 crore for the quarter ending December 31, 2024. The company’s shares rose by 0.06% to close at Rs 1216.95 on Friday, February 14, 2025.