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.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1343.10 |
| Indian Oil Corp. | 145.50 |
| BPCL | 309.80 |
| HPCL | 376.90 |
| MRPL | 186.90 |
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