For ₹45.32 crore, Reliance Industries purchases the remaining 6.1% of Nauyaan Shipyard.

Reliance Industries Limited (RIL), the most valuable corporation in India, announced on Friday, August 22, that Welspun Corp Ltd (WCL) had sold the remaining 6.1% equity ownership in Nauyaan Shipyard Private Ltd (NSPL) to its step-down wholly owned subsidiary, Nauyaan Tradings Private Ltd (NTPL). There was a total consideration of ₹45.32 crore for the acquisition. Nauyaan Shipyard Private is currently a step-down wholly owned subsidiary of RIL as a result of this transaction. The business made it clear that none of its promoters, promoter group, or other group companies have any stake in the acquisition, and thus the transaction does not qualify as a related party agreement.