Reliance Industries has increased its stake in Nauyaan Shipyard to 93.9 percent following a 9.9 percent acquisition by its wholly owned subsidiary, Nauyaan Trading. The additional shares were purchased from Welspun Corp for INR 547 million, according to a stock exchange filing.
The transaction follows an earlier deal in March 2025, in which Reliance Strategic Business Ventures—another subsidiary of Reliance Industries—acquired 100 percent of Nauyaan Trading for INR 1 lakh and a 74 percent stake in Nauyaan Shipyard for INR 3,827.3 million. In the following month, Reliance acquired another 10 percent for INR 550 million. These combined transactions have raised the group’s total shareholding in Nauyaan Shipyard from 84 percent to 93.9 percent.
Nauyaan Shipyard, incorporated in July 2021, is located in Dahej, Gujarat, on 138 acres of leased land adjacent to an existing Reliance manufacturing site. According to Reliance, the facility will be used for hydrogen electrolyser manufacturing, brine preparation, storage, and engineering fabrication. The enterprise value of the company is estimated at INR 6.43 billion.
In a related development, Reliance has also renamed Reliance Naval and Engineering Ltd to Swan Defence and Heavy Industries as part of its broader plans to expand into naval and defence fabrication.
Reliance Industries is a diversified conglomerate with interests in energy, petrochemicals, telecommunications, retail, and digital services. Through its subsidiaries, the company makes strategic investments in infrastructure and manufacturing assets across India.