Reliance Finance and Investments USA LLC (RFIUL), a wholly-owned subsidiary of Reliance Industries, has acquired a 21% stake in Wavetech Helium, Inc. (WHI), a US-based helium exploration and production company. FFIUL has entered into a stock purchase agreement with Wavetech Helium Inc and subscribed to a 21 per cent stake of WHI for an aggregate consideration of $12 million.
As per the Reliance filing with the stock exchanges, WHI was incorporated on July 2, 2021, in the United States and started its commercial operations in Calender Year 2024. Helium, a critical element in various industries including healthcare, research, aerospace, electronics, and fiber optics, is seeing increased demand due to the growing AI and data center sectors.

What the Reliance filing says on deal’s significance

This investment is said to align with Reliance’s strategy to expand its presence in low-carbon solutions and exploration and production businesses. According to the company’s filing, the acquisition is part of the company’s strategy to expand its exploration and production business in low-carbon solutions.
No governmental or regulatory approvals were required for the above transaction, the filing said.