Reliance Industries wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), has announced an investment of USD 2 million in Neolync Solutions Private Limited. As per agreement the total investment will translate into 40% of equity share capital in Neolync on a fully paid up and diluted basis.
- Neolync was incorporated in India and engaged in manufacturing of electronic products such as mobile phones, telecom products and computing devices etc.
- The investment is part of groups overall 5G initiatives and commitment to Government of Indias Made in India initiatives for fostering indigenous manufacturing especially in next gen 5G technologies.
The major deals and supports by Reliance Industries are featured below:
June 2021: Abu Dhabi National Oil Company (ADNOC) has signed a partnership agreement with Reliance Industries Limited (Reliance), for a new chemical projects at TAZIZ in Ruwais, UAE. The partners will develop a worldscale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TAZIZ.
Feb 2021: In order to increase presence in transportation systems, Reliance Industries subsidiary Reliance Strategic Business Ventures Limited (RSBVL), has acquired additional equity stake in its investee company skyTran Inc. for USD 26.76 million.
Aug 2020: The leading investment company British Columbia Investment Management Corporation, along with Brookfield Infrastructure Partners L.P, announced acquisition of a 100 per cent stake in a telecom tower company in India from a wholly-owned subsidiary of Reliance Industries Limited for approximately US$3.4 billion.
July 2020: The global energy company bp and Indias Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.