Acquisitions22 Mar 2025, 01:15 am
Reliance Industries Completes Acquisition of 74% Stake in Nauyaan Shipyard for Rs. 382.73 Crore
AI Summary
Reliance Industries Ltd. has completed the acquisition of a 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) through its step-down wholly owned subsidiary, Nauyaan Tradings Private Limited (NTPL). The acquisition was made for an aggregate consideration of Rs. 382.73 crore from Welspun Corp Limited. As a result, NSPL has become a step-down subsidiary of Reliance Industries Ltd. Prior to the acquisition, NTPL provided an unsecured loan of Rs. 93.66 crore to NSPL on an arms-length basis. Necessary applications have been made to the appropriate authorities for obtaining their approvals under the agreements between NSPL and these authorities.
Key Highlights
- Reliance Industries Ltd. completes the acquisition of a 74% equity stake in Nauyaan Shipyard Private Limited.
- The acquisition was made through the company's step-down wholly owned subsidiary, Nauyaan Tradings Private Limited.
- The total consideration for the acquisition was Rs. 382.73 crore.
- Nauyaan Shipyard Private Limited has become a step-down subsidiary of Reliance Industries Ltd.
- Prior to the acquisition, Nauyaan Tradings Private Limited provided an unsecured loan of Rs. 93.66 crore to Nauyaan Shipyard Private Limited.