STOCKWATCH

Reliance Industries Acquires 74% Stake in Navi Mumbai IIA Private Limited for Rs. 1628 Crores

Reliance Industries Ltd. has acquired 57,12,39,588 equity shares representing 74% of Navi Mumbai IIA Private Limited (NMIIA) at a price of Rs. 28.50 per equity share. This investment of Rs. 1628 crores makes NMIIA a subsidiary of Reliance Industries. NMIIA, incorporated in 2004, is engaged in developing an Integrated Industrial Area in Maharashtra and has a 'Special Planning Authority' status under the Maharashtra Regional and Town Planning Act, 1966. The transaction does not involve any related parties and does not require any governmental or regulatory approvals except for the consent from City and Industrial Development Corporation of Maharashtra Limited (CIDCO).

• Reliance Industries acquires 74% stake in Navi Mumbai IIA Private Limited for Rs. 1628 crores
• NMIIA is engaged in developing an Integrated Industrial Area in Maharashtra
• NMIIA has been appointed as 'Special Planning Authority' under the Maharashtra Regional and Town Planning Act, 1966
• The transaction does not involve any related parties
• No governmental or regulatory approvals were required for the transaction except for the consent from CIDCO