Reliance Industries Limited — JV/Acquisition, 13-12-2024: Acquisition

Reliance Industries has acquired 74% of Navi Mumbai IIA Private Limited (NMIIA) by purchasing 57,12,39,588 equity shares at ₹28.50 each, totaling ₹1,628.03 Cr. This strategic move aims to enhance Reliance's footprint in Maharashtra’s integrated industrial development sector, as NMIIA has been appointed as a ‘Special Planning Authority’ by the Maharashtra government. With NMIIA's recent turnover of ₹34.89 Cr, this acquisition is expected to bolster Reliance's operational capabilities and contribute positively to its growth trajectory. NMIIA is now a subsidiary, with CIDCO retaining a 26% stake.