General Announcement::Disclosure under Regulation 30 of SEBI Listing Regulations, 2015

Issuer & Securities

Issuer/ Manager
RELIANCE INDUSTRIES LIMITED
Securities
RELIANCEINUS$1.5B2.875%320112A - US759470BB24 - JJHB
RELIANCEINUS$1.5B2.875%320112R - USY72570AS69 - QZVB
RELIANCEINUS$1.75B3.625%520112A - US759470BD89 - Y4SB
RELIANCEINUS$1.75B3.625%520112R - USY72570AU16 - LVKB
RELIANCEINUS$750M3.75%620112A - US759470BC07 - KIKB
RELIANCEINUS$750M3.75%620112R - USY72570AT43 - ZNKB
RELIANCEIN US$800M5.875%PERP R - USY72596BT83 - 2PEB
RELIANCEUS$1B4.5%N201019A - US759470AZ01 - 4MDB
RELIANCEUS$1B4.5%N201019R - USY72570AQ04 - 4MEB
RELIANCEUS$1B5.4%N220214A - US759470AY36 - 7YAB
RELIANCEUS$1B5.4%N220214R - USY72570AP21 - 7XZB
RELIANCEUS$500M6.25%N401019A - US759470BA41 - 4MFB
RELIANCEUS$500M6.25%N401019R - USY72570AR86 - 4MGB
RELIANCEIND US$1B4.125%250128A - US759470AQ02 - 23RB
RELIANCEIND US$1B4.125%250128R - USY72596BU56 - 23SB
RELIANCEI US$750M4.875%450210A - US759470AS67 - 24EB
RELIANCEI US$750M4.875%450210R - USY72570AM99 - 24FB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
15-Mar-2022 01:22:48
Status
New
Announcement Sub Title
Disclosure under Regulation 30 of SEBI Listing Regulations, 2015
Announcement Reference
SG220315OTHRA36W
Submitted By (Co./ Ind. Name)
Reliance Industries Limited - Savithri Parekh
Designation
Company Secretary and Compliance Officer
Description (Please provide a detailed description of the event in the box below)
Reliance New Energy Limited (RNEL), a wholly owned subsidiary of the Company, has today entered into an agreement with inter alia Lithium Werks B.V. (Lithium Werks) to acquire, through a company to be set up in Netherlands (NewCo), substantially all of the assets of Lithium Werks including its 100% stake in Lithium Werks Technology B.V. (LW Tech) and in Lithium Werks China Manufacturing Co Limited (LW China) along with key business contracts and hiring of existing employees as a going concern for a total transaction value of USD 61 Million including funding for future growth. NewCo will issue shares to the founders and existing employees at closing and after such issuance RNEL will hold 85.8% of NewCo.

Lithium Werks, incorporated in the Netherlands, is a leading provider of cobalt free and high-performance Lithium Iron Phosphate (LFP) batteries with operations in the US, Europe and China and customers worldwide. The management of Lithium Werks brings 30+ years of battery expertise and nearly 200 MWh annual production capacity including coating, cell and custom module manufacturing capability.

LW Tech is a private limited company incorporated on 18 May, 2018 in the Netherlands. LW Tech is patent-holding company and does not have any revenue.

LW China is a private limited company established on 25 March, 2006 in the People s Republic of China. The turnover of LW China for CY 2021, CY 2020 and CY 2019 was USD 9.6 mn, USD 17.3 mn and USD 24.5 mn respectively.

The acquisition is not a related party transaction and none of RIL s promoter / promoter group / group companies have any interest in the entities involved in the transaction.

The objects and effects of the aforesaid acquisition are explained in the media release dated March 14, 2021 already filed by the Company on the subject.

The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete by June 2022. Kindly take the aforesaid on record.

Attachments

RNELReg30.pdf
Total size =393K