Reliance Infra Acquires Pipavav Defence for Rs 2082 Cr

Indian Billionaire Anil Ambani’s Reliance Infra acquired Pipavav Defence in a deal signed in March 2015. It is the biggest deal in Defence sector in India. Reliance Infrastructure Limited announced acquisition of controlling stake in Pipavav Defence and Offshore Engineering Company Limited for Rs 2082 Cr. Reliance Infra will buy 18 percent stake from promoter group led by Nikhil Gandhi at Rs 63 per share, implying a valuation of Rs 819 crore. Reliance Infrastructure trumped Mahindra & Mahindra and the Hero group which were also in the running for Pipavav….

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