Mumbai, Feb. 15 -- This transaction results in LPTL becoming a wholly-owned subsidiary of Reliance Industries.

"The Company has today, at 6:03 P.M. (IST), acquired 100% equity stake of Lakadia B Power Transmission Limited ("LPTL") for an aggregate consideration of Rs. 6.73 crore. With this acquisition, LPTL has become a wholly owned subsidiary of the Company," the Mukesh Ambani-owned company said in an exchange filing.

Reliance Industries 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.

Reliance Industries had reported a 12% year...