Reliance Industrial Investments Holdings Ltd (RIIHL), the investment arm of India’s most valuable company, plans to raise ₹13,900 crore through a rights issue of non-cumulative optionally convertible preference shares.

The funds will be used for acquisitions and to meet the group’s other funding requirements, two people aware of the development said, requesting anonymity.

Pioneer Natural Resources is in advanced talks to sell its Eagle Ford acreage in South Texas to privately owned energy producer Ensign Natural Resources, sources familiar with the matter said on Friday.

If successful, the sale would achieve Pioneer’s long-stated aim of becoming an energy producer focused solely on the Permian basin of West Texas and Eastern New Mexico, the heart of the US shale revolution.

Shares of billionaire Mukesh Ambani-led Reliance Industries slumped in trade on Monday morning, after the firm’s GRMs came in at the lowest level since Q3FY15. Reliance Industries shares slumped nearly 3% to hit the day’s low at Rs 1,345.30 on BSE. Notably, the firm has reported a drop in standalone net profit for the first time in 17 quarters.

Reliance Industries Saturday said it is not in violation of the US sanctions on Venezuela and had purchased crude originating from the Latin American nation from companies such as Russia’s Rosneft in full knowledge of US authorities. In a statement, Reliance said reports suggesting that it was involved in an arrangement that leads to cash payment for oil supplies to Venezuelan national oil company PDVSA via third parties are “false and reckless”.

After selling its East-West gas pipeline to an infrastructure investment trust (InvIT) sponsored by Brookfield, Reliance Industries Ltd has used this instrument to shed the liabilities of telecom arm Reliance Jio by around Rs 1,07,000 crore.

InvITs are like mutual funds that pool in money from various entities to invest in infrastructure assets.

Reliance Industries (RIL) stands to gain on crude oil supply security and substantial debt reduction, if reports suggesting a deal with Saudi Aramco are true. This is not the first time reports on a possible deal have emerged. “These talks have been around for two to three years,” said an expert, who did not wish to be named.

Reliance Industries (RIL) has signed a deal with Mitsui OSK Lines (MOL) for a strategic stake sale in six very large ethane carriers (VLECs), the company said on Wednesday.

RIL had sourced these carriers as part of its Ethane gas project to transport the compound from the United States to its plants in India. Currently, MOL, a Japanese shipping company, is operating these vessels and will become a joint owner once the deal gets regulatory approvals. The Mukesh Ambani-promoted company did not disclose the deal value or the size of the stake being sold.

Saudi Aramco, the world’s largest crude oil producer, is in “serious discussions” to acquire up to a 25 percent stake in Reliance Industries’ refining and petrochemicals businesses, the Times of India reported on Wednesday. A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company’s refining and petrochemicals businesses at around $55 billion to 60 billion, the report said.

Reliance Industries (RIL) said on Wednesday its subsidiary Reliance Jio Digital Services had entered into a strategic transaction with Haptik Infotech, a conversational artificial intelligence (AI) platform that will build India’s largest AI assistant company across chat, voice and regional languages.

The company said the transaction size (including investment for growth and expansion) is estimated to be Rs 700 crore, with Rs 230 crore as the consideration for the initial business transfer.

Reliance Jio has transferred control of its fibre and mobile tower units to two infrastructure investment trusts set up by Reliance Industrial Investments and Holdings Ltd (RIIHL).

The optical fibre cable infrastructure unit, Jio Digital Fibre Private Ltd (JDFPL) has allocated shares worth Rs 500 crore to Reliance Jio Infocomm Ltd (RJIL) on March 31, 2019, according to a regulatory filing.

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