Reliance Industries Limited (RIL) has officially disclosed that it will no longer proceed with the acquisition of a 100% equity stake in Kandla GHA Transmission Limited (KGTL). This decision follows a formal notification from PFC Consulting Limited (PFC) on May 6, 2026, which announced the annulment of the existing bidding process for the project. The acquisition had originally been approved by the RIL Board on April 25, 2025.

According to the corporate disclosure, the initial agreement involved acquiring KGTL from PFC for a consideration not exceeding Rs. 20 crore. The acquisition was structured as part of a tender awarded to Reliance Industries. However, with the formal annulment of the bid by the tendering authority, the company confirmed that it will not be acquiring any stake in the transmission entity. RIL received the final communication regarding this cancellation at 3:08 p.m. (IST) on May 6, 2026.

Reliance Industries Limited is a diversified Indian conglomerate with a massive footprint in energy, petrochemicals, natural gas, retail, and telecommunications. In recent 2025 updates, the company’s retail arm, Reliance Retail, significantly expanded its beauty portfolio by acquiring Priyanka Chopra Jonas’s brand, Anomaly. Additionally, the company partnered with TIME to bring the “TIME100 Next” event to India for the first time. RIL is also undergoing strategic corporate restructuring, including the amalgamation of IndiaCast Media Distribution with Jiostar India Private Limited.

For the final quarter of the 2024-2025 financial year, Reliance reported a consolidated gross revenue of Rs. 2,88,138 crore, marking an 8.8% YoY growth. The Profit After Tax (PAT) for the same period stood at Rs. 22,611 crore, reflecting a 6.4% YoY increase. Notable institutional presence in the company includes the Public Investment Fund (PIF) of Saudi Arabia, whose Governor, Yasir Othman H. Al Rumayyan, serves on the RIL Board. Other major institutional investors frequently active in the Indian market, such as the Abu Dhabi Investment Authority, maintain significant portfolios in the region.