(Reuters) -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 ...

On December 13, 2024, 57,12,39,588 equity shares of NMIIA were purchased at ₹28.50 per share, completing the transaction.

Reliance Industries has acquired a 74% equity stake in Navi Mumbai IIA for Rs 1,628 crore, making it a subsidiary.

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 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

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.

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).

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,

Mukesh Ambani-owned Reliance Industries Limited has acquired 74% stake in Navi Mumbai IIA (NMIIA) for Rs 1,628 crore.