New Delhi: Reliance Industries Ltd has invested Rs 1 lakh in cash in 10,000 equity shares of its newly incorporated subsidiary Reliance New Energy Solar Ltd. In a regulatory filing on Monday, Reliance Industries noted that Reliance New Energy Solar is yet to commence its business operations. The latter has been incorporated to undertake activities relating to solar energy.

As part of its vision for the company's rapid transition to a new era of green, clean and renewable energy, Reliance Chairman and Managing Director Mukesh Ambani, last month, unveiled the strategy and roadmap for its New Energy and New Materials business with an investment of Rs 60,000 crore over a period of three years.

"It is hereby informed that the company has invested Rs 1,00,000 in cash in 10,000 equity shares of Rs 10 each of 'Reliance New Energy Solar Ltd', a newly incorporated wholly-owned subsidiary," Reliance said. Reacting to the development, Shares of Reliance Industries on Tuesday morning hours quoted at Rs.2093 up by Rs. 9 as compared to the previous close of Rs. 2084 in NSE.

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