Ambani Group Infrastructure Company, a major player in India’s infrastructure and power sectors, is expanding into renewable energy and electric vehicles by establishing new subsidiaries. This move highlights the company’s focus on innovation and sustainability in response to evolving industry trends.
Share Price Movement of Reliance Infrastructure
The shares of Reliance Infrastructure Ltd, around 12:30 pm, were trading around Rs 269.50 per share, 2.50 percent down from its previous close.
On Tuesday, Reliance Infrastructure Limited announced the formation of new wholly-owned subsidiaries by two of its existing subsidiaries, aimed at expanding into the renewable energy sector.
Here are the two companies that are incorporated by the reliance group:
Reliance Energy Limited (REL),
A subsidiary of RIL, has incorporated two new subsidiaries- Reliance Zetta SolarTech Private Limited and Reliance Zetta Solar Private Limited
These companies are focused on the renewable energy sector, specifically in solar and other renewable energy generation, transmission, and distribution. They have been incorporated with a share capital of ₹1,00,000 each, consisting of 10,000 equity shares of ₹10 each. These entities are newly incorporated and have not yet commenced business operations. No governmental or regulatory approvals are required, and there is no related party transaction involved.
About Reliance Energy Limited
Reliance Energy Limited, a subsidiary of Reliance Infrastructure, is a key player in India’s power sector, involved in electricity generation, distribution, and transmission. The company focuses on innovation, sustainability, and renewable energy projects to provide reliable power solutions and support India’s energy infrastructure growth.
Reliance Velocity Limited (RVL),
Another subsidiary of RIL, has incorporated a new wholly-owned subsidiary named Reliance Green Glide Private Limited (RGGPL)
RGGPL is focused on manufacturing and dealing with electric vehicles, batteries, and related components. It has also been incorporated with a share capital of ₹1,00,000, consisting of 10,000 equity shares of ₹10 each. Like the other subsidiaries, RGGPL has not yet started operations, and no regulatory approvals are required. This acquisition also does not fall under related party transactions.
About Reliance Velocity Limited (RVL)
Reliance Velocity Limited (RVL), a subsidiary of Reliance Infrastructure, develops and operates infrastructure projects in the transport and logistics sectors. The company focuses on highways, roads, and related infrastructure to enhance national connectivity and transportation efficiency, supporting economic growth.
About Reliance Infrastructure Ltd
Reliance Infrastructure Limited, part of the Reliance Group, was incorporated in 1929 and provides Engineering and Construction services in power, roads, metro rail, and other infrastructure sectors. It also operates in defense and infrastructure projects through special-purpose vehicles. The company executed the Mumbai Metro Line 1 on a build, own, operate, and transfer basis. Additionally, it is a leading utility company with a presence across the energy value chain.
Written By Adhvaitha Nayani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses
