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| Exchange Received Time 02/10/2021 14:23:44 Exchange Disseminated Time 02/10/2021 14:23:50 Time Taken 00:00:06 | It is hereby informed that the Company has invested Rs.7,42,87,000 (equivalent to USD 1,000,000) in cash in 1,000,000 equity shares of USD 1 each of 'Reliance International Limited' (RINL), a newly incorporated wholly owned subsidiary in Abu Dhabi Global Market, United Arab Emirates.
RINL is incorporated to undertake activities relating to, amongst others, trading of crude oil, petroleum products, petrochemicals and agricultural commodities. RINL is yet to commence its business operations.
The investment in RINL does not fall within related party transaction and the promoter/ promoter group/ group companies do not have any interest in RINL. No governmental or regulatory approvals were required for the said investment. |
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