Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations， 2015 - Investment into Altigreen Propulsion Labs Private Limited by Reliance New Energy Limited
Reliance New Energy Limited (RNEL)， a wholly-owned subsidiary of the Company， has entered into an agreement with Altigreen Propulsion Labs Private Limited (Altigreen) for subscription of 34，000 Series A Compulsorily Convertible Preference Shares of face value Rs 100 each for an aggregate consideration of Rs 50.16 Crore. The transaction is proposed to be completed before March 2022.
Based out of Bengaluru， India， Altigreen is an eleclric vehicle technology and solutions company for commercial last 川le transportation through 2/3/4 wheeled vehicles. It has developed an E3Wvehicle and its vehicles are built in-house in Bangalore， India on a mobility platform that is 100% indigenous. Its current patent portfolio spans 60 countries with 26 global patents. Some of Altigreen's current technologies include electric motors & generato陪， vehicle controls， motor controls， EV transmissions， telematics & 10T and battery management.
The investment is paはof our Company's strategic intent of collaborating with innovative companies in New Energy and New Mobility ecosystems.
The acquisition is not a related party transaction and none of RIL's promoter / promoter group / group companies have any interest in the above entities involved in the transaction.
Altigreen is a private limited company incorporated in India on February 8， 2013. The turnover of Altigreen for FY 2018-19， FY 2019-20 and FY 2020・21 was Rs.193.53 lakhs， Rs.61.62 lakhs and Rs.103.82 lakhs respectively.
Regd. Offi.ce: 3M F1oor.ラMaker Chambers IVヲ222ヲNariman PointヲMumbai- 400 021， India
Reliance Industries Ltd. published this content on 10 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2022 03:28:02 UTC.
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.
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