RIL buys 26% stake in Adani’s Mahan unit for Rs 50 cr to secure captive
Fri, Mar 29, 2024 12:58 PM

RIL buys 26% stake in Adani’s Mahan unit for Rs 50 cr to secure captive

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In a deal involving two of India’s largest conglomerates, Mukesh Ambani’s Reliance Industries Ltd (RIL) will buy a 26 percent stake in Mahan Energen Ltd (MEL), a unit of Adani Power led by Gautam Adani. RIL will acquire 5 crore shares of MEL for Rs 50 crore, giving the company access to 500 megawatts (MW) capacity that it plans to use for captive purposes, the companies told exchanges separately.

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