Mukesh Ambani-led Reliance Industries Ltd (RIL) has announced the acquisition of 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL) through its wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL). 

• The transaction, valued at just Rs.1 lakh, was completed with Welspun Tradings Limited, a subsidiary of Welspun Corp Limited (WCL), the company said in an exchange filing on Friday.
• With this acquisition, NTPL has become a step-down wholly owned subsidiary of RIL, effective immediately.
• NTPL has also entered into a share purchase agreement with WCL to acquire a 74 per cent stake in Nauyaan Shipyard Private Limited (NSPL) for a total consideration of Rs.382.73 crore.
• The deal is subject to adjustments related to expenses and net current assets, the company said.