RIL shares in focus after subsidiary acquires 21% stake in US-based Wavetech Helium

Reliance Industries (RIL) shares will be in focus on Friday following the acquisition of a 21% stake in US-based Wavetech Helium, Inc. by its step-down subsidiary, Reliance Finance and Investments USA LLC, for approximately $12 million.

The deal was formalized through a stock purchase agreement signed on November 27, 2024.

WHI is a U.S. helium gas exploration and production company engaged in the acquisition, exploration, and development of properties to produce helium gas from underground reservoirs.


It was incorporated on July 2, 2021, in the United States and started its commercial operations in CY 2024.

Helium is used in medical applications, scientific research, aerospace and aeronautics, electronics, fibre optics etc. Further, given the growth expected in AI & Datacentres, helium demand for semiconductor manufacturing is expected to increase.

"The acquisition is part of the company’s strategy to expand its exploration and production business in low carbon solutions," said RIL, adding that the investment is not a related party transaction and none of the company’s promoter or promoter group companies have any interest in the above transaction.

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On Thursday, RIL shares closed at Rs 1,271.3, down 1.67% on the BSE, while the benchmark Sensex declined 1.48%. Its shares have declined 2% in 2024 to date and 15% over the past three months, with the company currently holding a market capitalization of Rs 17,20,438 crore.

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