Mumbai, May 9 -- Mukesh Ambani-led Reliance Industries Ltd (RIL) has informed the stock exchange through a regulatory filing that it is no longer in the race to buy a 100% stake in Kandla GHA Transmission Limited (KGTL) from PFC Consulting Limited.
Reliance informed the stock exchange that even after receiving approval for the pre-acquisition bidding process, PFC Consulting Limited sent a letter to RIL, cancelling the bidding process.
"The company has received a letter from PFC dated May 6, 2026, informing it of the cancellation of the ongoing bidding process. Therefore, the company will not acquire any stake in KGTL," Reliance said in an exchange filing.
In an earlier stock exchange filing last year on April 25, Reliance had announced t...