Gautam Adani and Mukesh Ambani, the country's richest businessmen, are joining hands for the first time in the energy industry. The agreement between the two companies is for Reliance to buy 5 crore equity shares in Mahan Energy Limited in Madhya Pradesh, which is wholly owned by Adani Power Limited. Reliance will also be allowed to take 500 MW of power for its own use through the deal. Reliance owns 5 crore shares of Rs 10 face value. (Ambani, Adani Collaborate For First Time: Reliance Picks Stake In Adani Power Project)
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