The Acquisition is for an aggregate consideration of Rs1,00,000 from Welspun Tradings
FinTech BizNews Service
Mumbai, March 21, 2025: Reliance Industries has informed the stock Exchanges that Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of the Company has informed the Company that it has, today, acquired 100% equity stake in Nauyaan Tradings Private Limited (NTPL) for an aggregate consideration of Rs. 1,00,000/- from Welspun Tradings Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL). Consequently, NTPL has become a step down wholly owned subsidiary of the Company effective today. NTPL was incorporated on March 03, 2025 and is yet to commence business.
Further, NTPL (post acquisition by RSBVL) has today entered into a share purchase
agreement with WCL to acquire from WCL 74% equity stake in Nauyaan Shipyard Private
Limited (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. NSPL’s enterprise value
is Rs. 643.78 crore with debt and liabilities aggregating Rs. 126.57 crore. NSPL’s 100%
equity value works out to Rs. 517.21 crore. NSPL will repay the Rs. 93.66 crore due to
WCL.
NSPL was incorporated on July 15, 2021. The turnover of NSPL for FY2023-24, FY 2022-
23 and FY 2021-22 was Rs. 0.07 crore, Nil and Nil, respectively. NSPL is entitled to
leasehold interest in about 138 acres (apart from right to use foreshore land) near
Company’s Dahej manufacturing plant. The land is proposed to be used for additional
activities including inter-alia for setting up of salt handling, storage and brine preparation
facilities; engineering fabrication of structures; and manufacturing of hydrogen
electrolysers.
The transactions are not related party transactions and none of the Company’s promoter /
promoter group / other group companies have any interest in the above transactions.
Necessary applications are being made to the appropriate authorities for obtaining their
approvals under the agreements between NSPL and these authorities.
The acquisition of 74% equity shares in NSPL is expected to be completed by March 21,
2025.
