Ambani, Adani collaborate for 1st time as Reliance picks 26% stake in Adani project
In the first collaboration between the billionaires, Mukesh Ambani's Reliance Industries has picked up a 26% stake in a Madhya Pradesh power project of Gautam Adani. Reliance will pick up 5 crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd and will use 500 MW of generation capacity for captive use.