Consequently, NSPL has become a step-down subsidiary of the company. Prior to the acquisition, NTPL has provided an unsecured loan of Rs. 93.66 crore to NSPL on arms-length basis.

"Necessary applications are being made to the appropriate authorities for obtaining their approvals under the agreements between NSPL and these authorities,” RIL said in a statement.

Reliance Industries (RIL) is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.

RIL had reported a 12% year-on-year increase in consolidated net profit to a record high of Rs 21,930 crore in the quarter ended December 31, 2024. RIL's Q3 revenue grew 7.7% to Rs 267,186 crore, while EBITDA climbed 7.8% to Rs 48,003 crore.

The scrip had risen 0.62% to end at Rs 1276.45 on the BSE on Friday.