Reliance Industries withdraws proposal to merge subsidiary RNEL with itself

RNEL will undertake the conglomerate's new energy/renewable energy business

BS Web Team New Delhi
Reliance Industries, RIL

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Reliance Industries (RIL) on Saturday said the company's board has withdrawn the proposal to merge subsidiary Reliance New Energy Limited (RNEL) with itself. RNEL will undertake the conglomerate's new energy/renewable energy business.
RNEL is a wholly-owned subsidiary of RIL.

"Based on a review of the new energy/renewable energy business and investment structure, the Board, at its meeting held on April 21, 2023, has decided that the new energy/renewable energy business should be undertaken through RNEL and the Scheme be withdrawn", the company said in a release.

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Topics : RIL

First Published: Apr 22 2023 | 9:58 PM IST

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