Reliance Industries acquired a 74% stake in Navi Mumbai IIA for ₹1,628 crore, following CIDCO's consent. This makes NMIIA, specializing in developing integrated industrial areas, a subsidiary of RIL.

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.

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 an industrial area developer, situated in the country's financial hub of Mumbai, for 16.28 billion rupees ($192 million).

Mukesh Ambani-headed Reliance Industries announced its acquisition of a 74% equity stake in Navi Mumbai IIA Private Ltd. (NMIIA) for Rs. 1,628.03 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,

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.

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