Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Ltd (RIL) has acquired 100% equity stake in Nauyaan Tradings Private Limited (NTPL) for an aggregate consideration of ₹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 RIL effective Friday, RIL said in a filing.

NTPL was incorporated on March 03, 2025 and is yet to commence business.

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 Private Limited (NSPL) for an aggregate consideration of ₹382.73 crore, subject to adjustments.

NSPL’s enterprise value is ₹643.78 crore with debt and liabilities aggregating ₹126.57 crore. 

NSPL’s 100% equity value works out to Rs. 517.21 crore. NSPL will repay the ₹93.66 crore due to WCL, RIL said. 

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 RIL’s Dahej manufacturing plant. 

“The land is proposed to be used for additional activities including for setting up of salt handling, storage and brine preparation facilities; engineering fabrication of structures; and manufacturing of hydrogen electrolysers,” RIL said. 

Necessary applications are being made to the appropriate authorities for obtaining their approvals under the agreements between NSPL and these authorities, RIL said. 

The acquisition of 74% equity shares in NSPL is expected to be completed by March 21, 2025.