Reliance picks up 26% stake in Adani’s Mahan Energen power project
In a first, the business houses run by Mukesh Ambani and Gautam Adani will enter into an investment agreement, by which Reliance Industries Ltd (RIL), controlled by Ambani, will pick up a minority stake in the latter’s Mahan Energen power project.
On Thursday, two companies — Adani Power and RIL — informed the stock exchanges of the investment agreement.
RIL entered into an investment agreement on March 27 with Mahan Energen, a wholly-owned subsidiary of Adani Power, where 50 million equity shares are to be allotted to RIL.
