Acquisitions11 Apr 2025, 12:47 am
Reliance Industries Ltd to Acquire Additional 10% Stake in Nauyaan Shipyard Private Limited for Rs. 51.72 Crore
AI Summary
Reliance Industries Ltd, through its step-down wholly owned subsidiary Nauyaan Tradings Private Limited (NTPL), has agreed to acquire a further 10% equity stake in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp Limited (WCL) for an aggregate consideration of Rs. 51.72 crore. The transaction is a related party transaction, conducted on arm's length basis, and is expected to be completed by April 11, 2025. Necessary applications have been made to the appropriate authorities for obtaining their approvals.
Key Highlights
- Reliance Industries Ltd to acquire an additional 10% equity stake in Nauyaan Shipyard Private Limited
- Transaction amount is Rs. 51.72 crore, subject to adjustments
- Related party transaction conducted on arm's length basis
- Expected completion date is April 11, 2025
- Necessary approvals from appropriate authorities are being sought