Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited acquired 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL) for Rs 1,00,000 from Welspun Tradings Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL). With this acquisition,NTPL becomes a step-down wholly owned subsidiary of Reliance Industries, effective March 20, 2025.

NTPL was incorporated on March 3, 2025 and is yet to commence business.

Subsequently, NTPL has entered into share purchase agreement with WCL 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) for an aggregate consideration of Rs. 382.73 crore.

Consequently, NSPL has become a step-down subsidiary of Reliance Industries Limited. Prior to the acquisition, NTPL has provided an unsecured loan of Rs. 93.66 crore to NSPL on an arm's length basis. Necessary applications are being made to the appropriate authorities for obtaining their approvals under the agreements between NSPL and these authorities.