Masterstroke by Mukesh Ambani as Asia’s richest man buys 10% stake in…, big challenge for…

Big win for Reliance Industries: In a major win for Mukesh Ambani’s Reliance Industries, the Ambani subsidiary led Reliance Strategic Business Ventures Limited (RSBVL) has announced the acquisition of 100 per cent equity stake in Nauyaan Tradings Private Limited (NTPL). Valued at Rs 1 lakh, the transaction took place between the Reliance Subsidiary and Welspun Tradings Limited, a subsidiary of Welspun Corp Limited (WCL), Reliance announced in its exchange filing.

“Nauyaan Tradings Private Limited (NTPL), a step-down wholly owned subsidiary of the Company has informed the Company that it has today completed the acquisition of further 10% equity stake in Nauyaan Shipyard Private Limited (NSPL), a step-down subsidiary of the Company for an aggregate consideration of Rs. 51.72 crore from Welspun Corp Limited,” Reliance Industries said in a filing.
Notably, with this announcement, NTPL has become a step-down wholly owned subsidiary of Reliance Industries Limited (RIL).

Readers should also note that NTPL also entered into a share purchase agreement with WCL to acquire a 74 per cent stake in Nauyaan Shipyard Private Limited (NSPL). In a total consideration of Rs 382.73 crore, the deal was major breakthrough for NTPL.

Adani’s Vizhinjam Port welcomes arrival of largest-ever container ship in Indian waters

In another landmark event for India’s maritime industry, Vizhinjam International Seaport, developed and operated by Adani Ports and SEZ Ltd, on Wednesday received MSC Turkiye, one of the world’s largest and most sustainable container vessels. This is the ship’s first call at any Indian port.

Spanning 399.9 metres in length, 61.3 metres in width, and 33.5 metres in depth, MSC Turkiye boasts a massive capacity of 24,346 twenty-foot equivalent units (TEUs), making it the largest container ship to berth at an Indian port to date.

Operated by the Mediterranean Shipping Company (MSC) and registered under the Liberian flag, the vessel represents cutting-edge innovation in fuel-efficient, environmentally responsible marine engineering.

Notably, Mukesh Ambani’s entry into the sector may be cause of worry for Gautam Adani’s Adani Group.

(With inputs from agencies)

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