Reliance Industries Ltd.

Reliance Industries’ wholly owned subsidiary -- Reliance Strategic Business Ventures (RSBVL) has acquired 100% equity stake in Nauyaan Tradings (NTPL) for an aggregate consideration of Rs 1 lakh from Welspun Tradings, a wholly owned subsidiary of Welspun Corp (WCL). Consequently, NTPL has become a step down wholly owned subsidiary of the Company effective from March 20, 2025. 

Further, NTPL (post-acquisition by RSBVL) has entered into a share purchase agreement with WCL to acquire from WCL 74% equity stake in Nauyaan Shipyard (NSPL) for an aggregate consideration of Rs 382.73 crore, subject to adjustments, if any, for expenses to the account of WCL and net current assets. The acquisition of 74% equity shares in NSPL is expected to be completed by March 21, 2025.

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.