Reliance Industries’ step-down wholly owned subsidiary-- Nauyaan Tradings (NTPL) has completed the acquisition of 74% equity stake in Nauyaan Shipyard (NSPL) for an aggregate consideration of Rs 382.73 crore from Welspun Corp.
Consequently, NSPL has become a step-down subsidiary of the company effective March 21, 2025. Prior to the acquisition, NTPL has provided an unsecured loan of Rs 93.66 crore to NSPL on arms-length basis.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
