March 12, 2024 | |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers, | Exchange Plaza, Plot No. C/1, G Block, |
Dalal Street, | Bandra-Kurla Complex, |
Mumbai 400 001 | Bandra (East), Mumbai 400 051 |
Scrip Code: 500325 | Trading Symbol: RELIANCE |
Dear Sirs, |
Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Investment by Reliance Ethane Holding Pte Ltd. in three wholly owned subsidiaries
Reliance Ethane Holding Pte Ltd. (REHPL), a wholly owned subsidiary of the Company, has informed that it has today invested in 34,300,000 ordinary shares of face value of USD 1 each for cash at par, in each of its three wholly owned subsidiaries, viz., Ethane Coral LLC, Ethane Diamond LLC and Ethane Jade LLC ("Ethane LLCs"), aggregating USD 102.90 million.
Ethane LLCs have entered into ship building contracts (SBCs) for purchase of Very Large Ethane Carriers (VLECs) and each Ethane LLC will own a VLEC. VLECs are being acquired for the transportation of Ethane. The investment is made to enable Ethane LLCs to make part payment towards cost of construction of three VLECs.
Ethane LLCs are limited liability companies incorporated on December 4, 2023 in the Republic of the Marshall Islands, to own VLECs and are yet to commence commercial operations.
The investment falls within related party transactions, being a transaction between REHPL (a wholly owned subsidiary of the Company) and its wholly owned subsidiaries, and is on arm's length basis. The Promoter, Promoter Group and other group companies are not interested in above investment.
No governmental or regulatory approvals were required for the above investment.
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com,Website: www.ril.com
CIN- L17110MH1973PLC019786
The Company has received an intimation about the aforesaid investment by REHPL today at 04:18 p.m. (IST).
This is for information and record.
Thanking you
Yours faithfully,
For Reliance Industries Limited
Digitally signed | ||
SAVITHRI by SAVITHRI | ||
PAREKH | PAREKH | |
Date: 2024.03.12 | ||
22:34:21 +05'30' | ||
Savithri Parekh | ||
Company Secretary and | ||
Compliance Officer | ||
Copy to: | ||
Luxembourg Stock Exchange | Singapore Exchange Limited | |
35A boulevard Joseph II | 4 Shenton Way, #02-01 SGX Centre 2, | |
L-1840 Luxembourg | Singapore 068807 |
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com,Website: www.ril.com
CIN- L17110MH1973PLC019786
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Reliance Industries Ltd. published this content on 12 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 March 2024 06:41:05 UTC.