Mumbai, March 25 -- Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Ltd (RIL), has announced the acquisition of 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp Limited (WCL) for Rs 3.82 billion, subject to adjustments.
As part of the transaction, RSBVL has also acquired 100% equity stake in Nauyaan Tradings Private Limited (NTPL) for a nominal Rs 1,00,000 from Welspun Tradings Limited, making NTPL a step-down wholly owned subsidiary of RIL.
Key Financials & Details: Enterprise value of NSPL: Rs 6.43 billion
Debt & liabilities: Rs 1.26 billion
100% equity valuation: Rs 5.17 billion
Amount payable to WCL: Rs 9.3 billion
NSPL's turnover: Rs 7 million (FY 2023-24), Nil (FY 2022-23 & 2021-22)
Strategic Importance of the Acquisition NSPL holds leasehold interest in approximately 138 acres near RIL's Dahej manufacturing plant, including foreshore land usage rights. The site is intended for: Salt handling, storage, and brine preparation Engineering fabrication of structures Manufacturing of hydrogen electrolysers
RIL confirmed that necessary applications are being submitted for regulatory approvals. The acquisition of 74% equity shares in NSPL is expected to be completed by March 21, 2025.
Published by HT Digital Content Services with permission from Construction World.