Reliance Industries Acquires 100% Stake in Nauyaan Tradings and Agrees to Acquire 74% Stake in Nauyaan Shipyard for Rs. 382.73 Crore

Reliance Industries Ltd. has announced the acquisition of 100% equity stake in Nauyaan Tradings Private Limited (NTPL) from Welspun Tradings Limited for Rs. 1,00,000. NTPL has become a step-down wholly owned subsidiary of the Company. Additionally, NTPL has entered into a share purchase agreement with Welspun Corp Limited to acquire 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) for an aggregate consideration of Rs. 382.73 crore, subject to adjustments. NSPL's enterprise value is Rs. 643.78 crore with debt and liabilities aggregating Rs. 126.57 crore. NSPL is entitled to leasehold interest in about 138 acres near Reliance's Dahej manufacturing plant for additional activities including setting up of salt handling, storage and brine preparation. The transactions are not related party transactions and the acquisition of 74% equity shares in NSPL is expected to be completed by March 21, 2025.