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Saudi Aramco, the world's largest oil exporter, has signed a non-binding agreement to acquire a 20% stake in Reliance's O2C business for $15 billion in 2019. Last week, the two companies announced that they would re-evaluate the transaction, ending two years of negotiations.

The sale of a 20% stake in the unit was announced in 2019, but it was postponed due to a sharp drop in oil prices and demand caused by the pandemic last year.

Ambani announced at the company’s annual general meeting of shareholders in August 2019 that it would negotiate the sale of a 20% stake in the petrochemical (O2C) business, which includes a dual refinery in Jamnagar, Gujarat, petrochemical assets, and a 51% stake in a fuel joint venture with BP. In the retail business, it has become the world's largest oil exporter.

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Ravi Pandit, chairman of Sentient Labs, an engineer entrepreneur and Bala Pachyappa, CEO of Sodium Energy Inc., incubated by KPIT Technologies, are betting on sodium ion chemistry to reduce the cost of batteries, which are the most expensive components in electric vehicles.

"BET (Bajaj Enfield TVS) is the champion, and we have OATS (Ola, Ather, Tork and Smart E) for breakfast," Bajaj said thunderously as he challenged the "burning" startups.

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