First Ambani-Adani pact: RIL picks 26% stake in Adani Energy’s MP undertaking; deal pegged at ₹50 crore between rival companies

Within the first collaboration between rival billionaires, Mukesh Ambani’s Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh energy undertaking of Gautam Adani, and signed a pact to make use of the vegetation’ 500 MW of electrical energy for captive use.

Reliance will choose up 5 crore fairness shares in Mahan Energen Ltd, an entirely owned subsidiary of Adani Energy Ltd, of face worth ₹10 at par ( ₹50 crore).


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Printed: 28 Mar 2024, 08:50 PM IST

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