Khaitan & Co advises Reliance on acquisition of Nauyaan Trading

Khaitan & Co advised Reliance Industries Limited on its 100% acquisition of Nauyaan Tradings Private Limited from Welspun Tradings Limited, and its agreement to acquire 74% equity stake in Nauyaan Shipyard Private Limited, from Welspun Corp Limited for a total consideration of ₹382.73 crore.

The Firm's role included preparing the legal due diligence report and advising Reliance Industries on structuring, drafting and negotiating of the transaction documents; providing execution and closing assistance.

The core team consisted of Rahul Dutt (Partner), Purti Minawala (Partner), Shivam Tandon (Principal Associate) and Harshita Mishra (Senior Associate) with assistance from Abhijeet Kamath (Senior Associate) and Samkit Jain (Associate).

Real estate related aspect: Harsh Parikh (Partner) and Karan Dattani (Principal Associate);

IBC related aspects: Kumar Saurabh Singh (Partner) and Ashwij Ramaiah (Principal Associate).

Reliance Industries Limited (RIL), made the acquisition through its wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), from Welspun Tradings Limited for ₹1 lakh according to Economic Times. Following this, NTPL entered into an agreement to acquire a 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp Limited (WCL) for ₹382.73 crore.

NSPL, incorporated in July 2021, holds leasehold rights to approximately 138 acres of land near RIL's Dahej manufacturing facility in Gujarat. This strategic location is intended for activities such as salt handling, storage, brine preparation, engineering fabrication of structures, and manufacturing of hydrogen electrolysers.

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