Reliance Industries Acquires Maharashtra’s Biggest Industrial Land Parcel for ₹2,200 Crore
Mukesh Ambani-led Reliance Industries Limited (RIL) has achieved another significant milestone by acquiring Maharashtra’s largest industrial land parcel, measuring over 5,286 acres, for ₹2,200 crore. The strategic acquisition further solidifies Reliance’s dominance in India’s industrial and infrastructure landscape.
Details of the Acquisition
Strategic Location
The industrial land is strategically situated near:
- Navi Mumbai Airport
- Jawaharlal Nehru Port Trust (JNPT)
- Mumbai Trans Harbour Link (MTHL)
The proximity to these critical infrastructures enhances the land’s value, making it a prime asset for future developments.
Transaction Overview
- Equity Stake Acquisition: RIL acquired 74% equity in Navi Mumbai IIA Private Limited (NMIIA), previously known as Navi Mumbai SEZ.
- Purchase Price: RIL paid ₹28.50 per equity share, amounting to ₹1,628.03 crore, valuing the land at ₹2,200 crore.
- Shareholder Agreement: The deal was facilitated following a waiver of the first right of refusal by the City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO).
Ownership Structure
The transaction involved entities connected to Urban Infrastructure Holdings Pvt. Ltd. (UIHPL), which owned Navi Mumbai SEZ.
- Urban Infrastructure Holdings Stake:
- 33% owned by Reliance Group companies.
- 32% held by Jai Corp Group, led by Anand Jain.
- 35% owned by SKIL Infrastructure, currently under NCLT proceedings.
Subsidiary Involvement
Dronagiri Infrastructure Pvt. Ltd. (DIPL), a subsidiary of UIHPL, sold its 74% stake in NMIIA to RIL.
Reliance’s Statement on the Deal
RIL clarified the nature of the transaction:
- Not a Related Party Transaction: The company affirmed that no promoters, promoter groups, or associated companies had any involvement in the deal.
- Independent Acquisition: The purchase aligns with Reliance’s ongoing efforts to expand its industrial and infrastructure portfolio.
Significance of the Acquisition
Boost to Industrial Expansion
This acquisition positions Reliance to capitalize on Maharashtra’s growing industrial and logistical potential.
- The land’s location near major infrastructure hubs enhances its potential for manufacturing, warehousing, and logistics operations.
Strengthening Reliance’s Portfolio
- With a market capitalization of ₹16.80 lakh crore (as of January 2, 2025), Reliance continues to expand its footprint across industries, leveraging its resources for large-scale infrastructure development.
Facilitating Economic Growth
- This acquisition aligns with broader economic goals, contributing to regional development and employment opportunities in Maharashtra.
Key Highlights
- Strategic Location: The land is positioned near critical infrastructure like Navi Mumbai Airport and JNPT, enhancing its industrial utility.
- Land Valuation: The deal values the 5,286-acre parcel at ₹2,200 crore, making it one of the largest transactions in Maharashtra’s industrial sector.
- Transaction Structure: Reliance acquired 74% equity in NMIIA through a clear and independent process, ensuring regulatory compliance.
- Future Potential: The acquisition sets the stage for Reliance’s further expansion into industrial and infrastructure domains.
The acquisition of Maharashtra’s largest industrial land parcel marks a significant achievement for Reliance Industries and Mukesh Ambani. Positioned near strategic infrastructure, the land offers immense potential for industrial growth and development. As Reliance continues to diversify and strengthen its portfolio, this deal reaffirms its commitment to driving India’s economic progress.
