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Reliance Industries acquires 74% stake in Navi Mumbai IIA
India's Reliance Industries buys 74% stake in Navi Mumbai IIA for $192 million
India's Reliance Industries said on Friday it has bought a 74% stake in Navi Mumbai IIA (NMIIA) for 16.28 billion rupees ($192 million). NMIIA operates an industrial area located in Mumbai, India's financial hub and the capital of the western state of Maharashtra.
Reliance Industries acquires 74% stake in Navi Mumbai IIA for Rs 1,628 crore
Reliance Industries acquired a 74% stake in Navi Mumbai IIA for Rs 1,628.03 crore, following CIDCO's consent. RIL purchased 57.12 crore shares at Rs 28.50 each, making NMIIA, a developer of integrated industrial areas,
Reliance Industries buys 74% stake in Navi Mumbai IIA for ₹1,628 crore
Reliance Industries has acquired 57.12 crore equity shares representing 74% of Navi Mumbai IIA Private Limited (NMIIA) at Rs. 28.50 per equity share, aggregating ₹1628.03 crore ($192 million), it said
Ambani's Reliance buys $192 million stake in Mumbai industrial city
India's Reliance Industries said on Friday it has bought a 74% stake in an industrial area developer, situated in the country's financial hub of Mumbai, for 16.28 billion rupees ($192 million). Navi Mumbai IIA was renamed from Navi Mumbai Special Economic Zone after the state government approved to convert it into an integrated industrial area in 2018.
Reliance Industries acquires 74% stake in Navi Mumbai IIA Private for ₹1,628 crore
CIDCO retains the remaining 26% stake in the company. With this acquisition, NMIIA has become a subsidiary of Reliance Industries. Shares of Reliance Industries Ltd ended at ₹1,273.35, up by ₹9.50, or 0.
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