Reliance Industries (RIL) on Monday has raised $736 million in green loan to fund the acquisition of solar panel maker, REC Solar Holdings. This will be first such financing for the Mukesh Ambani-owned company.

REC Solar is the borrower while Reliance New Energy Solar is the guarantor, as per local media reports.

Reliance Industries Ltd is considering an offer for British telecom company BT Group Plc, the Economic Times reported on Monday, citing unnamed sources familiar with the matter.

Reliance might make an unsolicited offer to buy into BT Group or will try to get a controlling share in it, the report said.

Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 49.1 mn shares of Sterling and Wilson Solar for over Rs 1,840 crore.

The 49.1 mn shares constitute 25.9 per cent equity stake or the entire public holding in Sterling and Wilson Solar Ltd, Sterling and Wilson Solar said in a regulatory filing.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Tuesday its solar unit Reliance New Energy Solar Ltd (RNESL) will buy preferred shares of German firm NexWafe worth 25 million euros ($28.82 million).

RNESL agreed to buy 86,887 series C preferred shares of NexWafe at 287.733 euros per share, Reliance said, adding that RNESL would also be issued 36,201 warrants exercisable for one euro per warrant, subject to achievement of agreed milestones.

Reliance Retail Ventures (RRVL), the retail arm of Reliance Industries, has for the second time extended the timeline for completing its Rs 24,713-crore deal with the Future group, to March 31, 2022, as it awaits regulatory and judicial clearances.

In a regulatory filing on Friday, Future Retail said RRVL had extended the timeline for a long-stop date from September 30, 2021 to March 31, 2022, which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Ltd, a wholly-owned subsidiary of RRVL.

Markets watchdog Sebi has disposed of adjudication proceedings without imposing any penalty on Reliance Industries Ltd in a matter related to alleged incorrect disclosure of diluted earnings per share in its financial results more than 13 years ago.

Sebi decided not to impose any penalty for the alleged violations mainly on two grounds, including that the amendment to the relevant law that made incorrect disclosure of information by a listed company punishable came into force prospectively from March 2019.

Reliance Industries will by 2030 create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said Friday as he outlined a 1-1-1 vision to bring down the cost of hydrogen to under USD 1 per 1 kg in 1 decade.

The focus on generating electricity from renewable sources of energy such as solar and wind -will help cut carbon emissions in the world's third-largest greenhouse gas emitter.

Benchmark indices logged fresh all-time highs on Thursday amid positive sentiment across the global markets on hopes the US Federal Reserve would maintain its easy monetary stance amid not so encouraging signs of economic recovery.

The BSE Sensex rose 514 points, or 0.9 per cent, to end at 57,852, while the Nifty rose 158 points, or 0.92 per cent, to finish at 17,234. Both indices added nearly 9 per cent each in August, their best monthly showing since November.

Shares of Reliance Industries (RIL) were up nearly 3 per cent at Rs 2,202 on the BSE in intra-day trade on Monday on a report that Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company’s oil refining and chemicals (O2C) business. The stock of the Mukesh Ambani-led RIL was trading at its highest level since June 24, 2021. It had hit a record high of Rs 2,368.80 on September 19, 2020.

The Middle Eastern energy firm is discussing the purchase of roughly 20 per cent stake in the Reliance unit for about $20 billion to $25 billion in Aramco’s shares, Bloomberg reported quoting the people with knowledge of the matter. RIL could reach an agreement with Aramco as soon as the coming weeks, the report suggested.

In light of the ongoing COVID-19 pandemic, Reliance Industries has said that it will continue to provide salaries for five years to the nominee of employees who succumbed to the disease.

In a statement, Reliance further said that under the 'Reliance Family Support and Welfare Scheme', it would fully fund tuition fees, hostel accommodation and books of all the children of the employee, up to bachelors degree at any institute in India.

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