Reliance Industries Limited (RIL) completed the purchase of Reliance Chemicals and Materials Limited (RCML), a company focused on the production of petrochemicals and hydrogen, for ₹314.48 crore.
As reported by Projects Today, RCML was a step-down subsidiary under Reliance Projects and Property Management Services (RPPMSL). With the acquisition, RCML is now a direct wholly-owned subsidiary of Reliance Industries.
RCML is involved in the production of various products including petrochemicals, vinyls, hydrogen and its derivatives, rare and industrial gases, bio-energy products, and carbon fibre. Since the transaction involves the transfer of ownership within entities under the same parent company, it qualifies as a related party transaction.
