Reliance Industries Limited has announced that it will no longer proceed with the acquisition of Kandla GHA Transmission Limited. The company received formal notification from PFC Consulting Limited on May 6, 2026, confirming the annulment of the existing bidding process. Consequently, the previously planned deal, valued at approximately Rs. 20 crore, stands terminated.
Termination of Proposed Acquisition
Reliance Industries Limited (RIL) has officially updated its status regarding the acquisition of Kandla GHA Transmission Limited (KGTL). Following the approval granted by the Board of Directors on April 25, 2025, the company had intended to acquire a 100% equity stake in the project from PFC Consulting Limited for a consideration not exceeding Rs. 20 crore.
Impact on Project Bidding
On May 6, 2026, at 3:08 p.m. (IST), the company received a formal communication from PFC Consulting Limited. The notice informed the company that the existing bidding process for KGTL has been annulled by the authorities. As a direct result of this development, Reliance Industries Limited will not be proceeding with the acquisition of any stake in the transmission company.
Source: BSE
