Anil Ambani's Reliance Infra To Enter Auto Sector? See Announcement

In a strategic move to diversify its business operations, Reliance Infrastructure, part of the Reliance Group , has announced the incorporation of two new subsidiaries that will cater to the automotive sector. Reliance Infrastructure Ltd.'s subsidiary Reliance Velocity Ltd. incorporated two new subsidiaries to carry out business in automobile and related sectors, the company said in an exchange filing on 10th January. 

The two new entities-Reliance MoEVing Pvt. Ltd. and Reliance GreenTech Mobility Pvt. Ltd, will focus on vehicles which are run on batteries. 

 Reliance Infra To Enter Auto Sector- Here is what the company said

“The aforesaid Companies are incorporated as wholly owned subsidiaries of Reliance Velocity Limited, a wholly owned subsidiary of the Company. The stepdown subsidiaries are incorporated with object of manufacture and dealing in vehicles run by electricity, batteries or otherwise and their components.” the company said in an exchange filing. 

Both the entities are expected to leverage Reliance Infrastructure’s existing capabilities in engineering, procurement, and project execution to create a robust presence in the market. The authorised paid-up share capital of both the companies is Rs. 1 lakh each, comprising of 10,000 equity shares of Rs. 10 per share.

Industry Analysts claim that this development underscores the conglomerate's intent to capitalize on the evolving opportunities within the auto industry, particularly amidst the global shift towards sustainable and technology-driven mobility solutions.

Reliance Infrastructure share price today

Reliance Infrastructure share price closed 1.86 percent higher at Rs 292.40 apiece on 10th January.  On Monday, January 13, the share price dropped by 5 percent at Rs 277.55