Reliance Industries is on an acquisition spree in FY22, particularly in the final two quarters. With  around a week still to go till the end of FY 22, the company has invested over Rs 21,330 crore in various sectors. Reliance Industries’ investment spree is similar to a fund that invests in interesting startups.

However, the acquisitions by the company have been multi-faceted. Ranging from investing in a premium luxury hotel (Rs 750 crore) to E-commerce giant Dunzo (Rs 1,500 crore), the company has been investing in diverse sectors.

One of the company’s major investments was a joint venture with TA’ZIZ In December 2021. This joint venture with Abu Dhabi-based TA’ZIZ will construct several chemical production facilities with an investment of Rs 15,000 crore. This allows the company to set up its first project in the Vinyl chain in the UAE. The chemicals and oils sector made up close to 36% of the company’s total investments. Huge investments in diverse sectors like this might push the timeline of the company’s objective of becoming carbon neutral.

Reliance previously identified its path to make the company carbon neutral within the next 15 years. To achieve this, the company has set aside Rs 75,000 crore towards this segment. Reliance Industries aims to become the biggest energy supplier in India.

With that goal in mind, the company has invested a major part of its purse in renewable energies. In FY22, the company invested over Rs 8,294 crore, constituting around 39% of its total investments in renewable energy companies. The top two investments in this domain include the company’s acquisition of REC Solar Holdings for Rs 5,800 crore and Faradion for Rs 935 crore.