Reliance Industries Limited (RIL), led by billionaire Mukesh Ambani, has solidified its foothold in India’s maritime infrastructure sector by acquiring a 74% stake in Nauyaan Shipyard Private Limited (NSPL). The deal, valued at ₹382.73 crore, underscores Reliance’s strategic push to diversify beyond its traditional energy and telecom strongholds into industrial and logistics domains, aiming to enhance its supply chain capabilities and support its expansive business ecosystem.
The acquisition, executed through Reliance’s wholly-owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), involved a two-step process. First, RSBVL acquired 100% of Nauyaan Tradings Private Limited (NTPL) from Welspun Tradings Limited—a subsidiary of Welspun Corp Limited—for a nominal ₹1 lakh. Subsequently, NTPL purchased the 74% equity stake in Nauyaan Shipyard from Welspun Corp, making NSPL a step-down subsidiary of RIL as of March 21, 2025. The shipyard’s enterprise value stands at ₹643.78 crore, including ₹126.57 crore in debt and liabilities, reflecting a calculated investment in a strategically vital asset.
Located near Reliance’s sprawling Dahej manufacturing facility in Gujarat, Nauyaan Shipyard spans approximately 138 acres of leasehold land and includes access to 1,000 meters of waterfront. While historically tied to maritime activities, Reliance has signaled plans to repurpose the site for broader industrial applications. The company intends to develop facilities for salt handling and storage, brine preparation, structural fabrication, and—most notably—the manufacturing of hydrogen electrolyzers. This aligns with Reliance’s ambitious green energy goals, particularly its focus on becoming a key player in India’s green hydrogen ecosystem.
Industry experts view this acquisition as a masterstroke in Reliance’s long-term strategy to integrate its supply chain and industrial operations. “This isn’t just about shipbuilding—it’s about creating a robust infrastructure backbone,” said Rohan Mehta, an analyst with a Mumbai-based consultancy. “By controlling strategic assets like Nauyaan, Reliance can streamline logistics, reduce costs, and support its diversification into high-growth sectors like clean energy and advanced manufacturing.”
The deal also reflects a shift in Reliance’s approach to maritime infrastructure. While the company has no immediate plans to enter traditional shipbuilding—unlike the earlier ventures of Anil Ambani’s Reliance Naval and Engineering—the acquisition provides flexibility for future maritime-related expansions. The waterfront access and proximity to Dahej, a key hub for Reliance’s petrochemical operations, enhance its logistical efficiency, potentially supporting exports and raw material transport.
For Welspun Corp, the sale of its majority stake in Nauyaan Shipyard—acquired in 2023 as part of a distressed asset purchase—represents a profitable exit, allowing it to refocus on its core businesses like steel and pipes. The transaction, subject to adjustments for expenses and net current assets, also includes NSPL repaying an unsecured loan of ₹93.66 crore to Welspun Corp, ensuring a clean financial slate for Reliance’s new subsidiary.
This move comes at a time when India is pushing to bolster its domestic industrial and logistics capabilities, supported by government initiatives like the National Green Hydrogen Mission. Reliance’s investment in hydrogen electrolyzer manufacturing at Nauyaan ties directly into this agenda, positioning the company to benefit from incentives and growing demand for sustainable energy solutions.
As Reliance continues to expand its industrial footprint, the Nauyaan Shipyard acquisition signals a broader vision: a conglomerate that’s not just adapting to global trends but actively shaping them. With regulatory approvals underway and operations set to evolve, this deal could mark a pivotal chapter in Reliance’s journey toward becoming a leader in next-generation infrastructure and logistics.
