Reliance Buys Major Stake in Mumbai Industrial Area

CosmicTaco · 2024-12-14T12:10:23.306150+05:30

- Reliance Industries acquired a 74% stake in Navi Mumbai IIA for $192 million, boosting its warehousing and logistics operations. - The industrial area was converted from a Special Economic Zone in 2018, amid rising warehousing demand in India's steady economy. - The remaining 26% stake is held by the City and Industrial Development Corporation of Maharashtra. Source: [Reuters](https://www.reuters.com/world/india/indias-reliance-industries-buys-74-stake-navi-mumbai-iia-192-mln-2024-12-13/)

Reliance Industries acquired a 74% stake in Navi Mumbai IIA for $192 million, boosting its warehousing and logistics operations.
The industrial area was converted from a Special Economic Zone in 2018, amid rising warehousing demand in India's steady economy.
The remaining 26% stake is held by the City and Industrial Development Corporation of Maharashtra.

Source: Reuters