In another major business move by Reliance Industries Ltd chairman Mukesh Ambani, the conglomerate has acquired a 21 percent stake in Wavetech Helium Inc -- a US-based helium gas exploration and production company -- for a whopping $12 million.

Reliance Finance and Investments USA LLC, a subsidiary of Reliance Industries, acquired a 21% stake in US-based Wavetech Helium for $12 million (Rs 100 crore) on November 27, 2024. The investment aims to expand its low-carbon exploration business.

The billionaire Mukesh Ambani-run group, which operates the world's biggest oil refining complex at Jamnagar in the western Indian state of Gujarat, announced in 2021 investments worth $10 billion to develop its green energy portfolio and achieve its 2035 net zero carbon goal.

Reliance Industries Ltd on Thursday said it has acquired a 21 per cent stake in US helium gas exploration and production company Wavetech Helium Inc for USD 12 million. "Reliance Finance and Investments USA LLC,

As per the agreement, Reliance Finance and Investments will buy a 21 per cent stake for an aggregate consideration of $12 million