Reliance Industries’ arm Reliance Retail sells 100% stake in RPPMSL for ₹274 crore

Mukesh Ambani-backed Reliance Industries Ltd (RIL) on Monday (April 13) disclosed that its step-down subsidiary, Reliance Retail Ltd, has sold its 100% equity stake in Reliance Projects & Property Management Services Ltd (RPPMSL) to Jaipur Enclave Private Ltd for ₹274 crore.

Following the transaction, Reliance Projects & Property Management Services has ceased to be a subsidiary of Reliance Industries Ltd. The buyer does not belong to the promoter, promoter group or group companies of the company, and the transaction is not classified as a related party transaction.

Reliance Projects & Property Management Services contributed ₹6,412.60 crore to consolidated turnover for the financial year ended March 31, 2025, representing 0.06% of total turnover. Its net worth contribution stood at ₹342.45 crore, accounting for 0.04% as of March 31, 2025.

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Last month, Reliance Industries said it had signed a binding agreement with Samsung C&T, an affiliate of South Korea’s Samsung Group, to supply green ammonia for 15 years. The deal is valued at over $3 billion, with supplies expected to begin in the second half of FY29.

The agreement is among the largest long-term green ammonia offtake deals globally and comes as countries such as Japan and South Korea increasingly look to low-carbon fuels like hydrogen and ammonia to reduce emissions from industries and power generation.

Green ammonia is produced by combining nitrogen with hydrogen generated using renewable electricity. It is considered a low-carbon fuel and an efficient medium for transporting hydrogen. The company is building a clean-energy manufacturing ecosystem that includes solar modules, battery energy storage systems, and electrolysers.

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It added that the agreement with Samsung C&T is the first in a series of long-term offtake partnerships aimed at scaling up the company’s New Energy platform.

Shares of Reliance Industries Ltd ended at ₹1,314.55, down by ₹35.60, or 2.64%, on the BSE.

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