Reliance Industries : Disclosure under Regulation 30 of the SEBI Listing Regulations - Investment by Reliance Ethane Holding Pte Ltd. in three wholly owned subsidiaries
March 13, 2024 at 02:42 am EDT
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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
Reliance Industries Ltd. published this content on
12 March 2024 and is solely responsible for the information contained therein. Distributed by
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Reliance Industries Ltd is a diversified group organized around 6 areas of activity:
- refining of petroleum products (58.4% of net sales): liquefied petroleum gas, propylene, naphtha, gasoline, kerosene, etc. At the end of March 2021, the group operated a refinery in India. The group also produces petrochemicals (polyethylene, polypropylene, polyvinyl chloride, polyester, purified terephthalic acid, paraxylene, ethylene, olefins, benzene, butadiene, acrylonitrile and caustic soda);
- distribution of consumer products (28.3%): distribution of food products, clothing and accessories, consumer electronics, etc. through a network of 12,711 stores in India;
- digital services (5.1%);
- exploration and production of crude oil and natural gas (0.3%);
- financial services (0.2%);
- other (7.7%): telecommunications and media services, textile manufacturing, etc.
India accounts for 61.5% of net sales.
Reliance Industries : Disclosure under Regulation 30 of the SEBI Listing Regulations - Investment by Reliance Ethane Holding Pte Ltd. in three wholly owned subsidiaries
RELIANCE INDUSTRIES LTD 
