Reliance Industries acquires 21% stake in Wavetech Helium for Rs 100 crore

Reliance Industries' subsidiary, Reliance Finance and Investments USA LLC, has acquired a 21% stake in US-based Wavetech Helium for $12 million (Rs 100 crore). The deal was finalized on November 27, 2024. This investment is part of Reliance's strategy to grow its low-carbon exploration business. Wavetech Helium focuses on helium extraction, which is essential for industries like AI and semiconductor manufacturing. Wavetech, founded in 2021, began commercial operations in 2024. The acquisition reflects Reliance's interest in expanding its presence in the helium market amid rising demand.