Mukesh Ambani-led Reliance Industries Ltd (RIL) has announced the acquisition of 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL) through its wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL). The transaction, valued at just ₹1 lakh, was completed with Welspun Tradings Limited, a subsidiary of Welspun Corp Limited (WCL), the company said in an exchange filing on Friday.
With this acquisition, NTPL has become a step-down wholly owned subsidiary of RIL, effective immediately.
NTPL has also entered into a share purchase agreement with WCL to acquire a 74 per cent stake in Nauyaan Shipyard Private Limited (NSPL) for a total consideration of ₹382.73 crore. The deal is subject to adjustments related to expenses and net current assets, the company said.
The acquisition of NSPL’s 74 per cent equity shares is expected to be completed by March 21, 2025.
Reliance’s shipyard expansion
NSPL, incorporated on July 15, 2021, has an enterprise value of ₹643.78 crore, which includes ₹126.57 crore in debt and liabilities. The 100 per cent equity valuation of NSPL stands at ₹517.21 crore, with a provision for NSPL to repay ₹93.66 crore due to WCL as part of the transaction.
NSPL is located in Dahej, Gujarat, and holds a leasehold interest in approximately 138 acres of land near Reliance’s Dahej manufacturing plant. The company also has rights to use foreshore land in the area. This land will be used for various purposes, such as salt handling, storage, and brine preparation, as well as the engineering fabrication of structures and the manufacturing of hydrogen electrolysers.
In the first two years of its incorporation NSPL reported nil revenue, in financial year 2023-24, however, it recorded ₹7 lakh.
Reliance has been expanding its shipyard operations. In January, Reliance Naval and Engineering Limited was rebranded as Swan Defence and Heavy Industries Limited after being acquired by Swan Energy Ltd. As part of the acquisition, Swan Energy plans to boost the shipyard’s manufacturing capacity, with the goal of positioning India among the top five nations for heavy fabrication in naval, defense, and oil and gas sectors.
