Reliance Industries proposes demerger of oil-to-chemicals business

Reliance Industries Ltd (RIL) proposes to carve out its oil-to-chemicals (O2C) business into a separate wholly-owned subsidiary by second quarter of FY22. The process would result in formation of a new firm -- Reliance O2C Ltd -- where the company intends to rope in Saudi national oil company Aramco by selling up to 20 per cent equity.

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