Reliance Industries completes amalgamation of two wholly owned subsidiaries in Middle East; check details

Billionaire Mukesh Ambani-helmed conglomerate Reliance Industries Ltd (RIL) on Thursday, September 18, said that two of its UAE-headquartered wholly owned subsidiaries completed their amalgamation.

In an exchange filing, the firm informed that Reliance Exploration & Production DMCC has been amalgamated with Reliance Industries (Middle East) DMCC, with effect from September 16.

Furthermore, RIL received the certificate of amalgamation at 5:20 pm IST on September 17.

Recent development

Last week, the Fortune 40 company incorporated Reliance Intelligence as a wholly owned subsidiary.

The artificial intelligence (AI) subsidiary was incorporated on September 9, with RIL receiving the certification of incorporation from the Ministry of Corporate Affairs via email on Tuesday at 3:45 pm, a regulatory filing dated September 10 said.

Ambani first announced the launch of the AI firm at RIL’s 48th Annual General Meeting (AGM) held on August 29.

“This is a landmark step for Reliance and for India’s digital future,” Mukesh Ambani had said, adding, “Reliance Intelligence is conceived with four clear missions, each designed to position India at the forefront of global AI innovation.”

RIL stock performance

Shares of RIL closed 0.08% higher at ₹1,415 apiece on the National Stock Exchange (NSE) on Thursday. However, this development came in after the market closed.

The stock has gained 2.83% over the week and 10.98% over a period of six months. On a year-to-date basis, it has surged 16.48%.

While the scrip touched a 52-week high of ₹1,551 on July 9, 2025, it reached a year’s low of ₹1,114.85 per equity share on April 7, 2025.

RIL’s total market capitalisation stood at ₹19.15 lakh crore, as of September 18, 2025, according to data on the NSE.

RIL Q1 result

The company’s net profit surged 78% year-on-year (YoY) to ₹26,994 crore in the first quarter of the 2025-26 financial year (Q1FY26), as against ₹15,138 crore in the corresponding period of the previous fiscal.

RIL’s revenue from operations soared 5% YoY to ₹2.49 lakh crore in the June quarter of the current financial year, compared to ₹2.36 lakh crore in the first quarter of FY25.