Promoters - RNAVAL

RDSPL and/or its holding/subsidiary companies/other affiliates/associates are the sole Promoters/Promoter Group of the Company w.e.f. January 18, 2016.

The Reliance Group, led by Shri Anil D. Ambani, is one of India's prominent business house with interest in diverse businesses such as telecommunication, financial services, mutual funds, insurance, power, infrastructure, etc.
Purchase Agreement dated March 4, 2015 (the “Purchase Agreement”) was entered into amongst SKIL Infrastructure Limited, SKIL Shipyard Holdings Private Limited, Grevek Investments Finance Private Limited, Shri Nikhil Gandhi, Shri Bhavesh Gandhi (collectively referred to hereinafter as the “erstwhile promoters”), “RDSPL”, Reliance Infrastructure Limited (“RInfra”) (collectively referred to hereinafter as the “Reliance”), and the Company providing, inter alia, for substantial acquisition of shares (including 13,00,00,000 equity shares from the erstwhile promoters)

On March 4, 2015 “RDSPL”, Reliance Infrastructure Limited (“RInfra”) (collectively referred to hereinafter as the “Reliance”) made a public announcement of an open offer for acquiring upto 26% shares of the Company from the public shareholders. The process of Open offer has been completed pursuant to which RDSPL acquired 13,87,12,427 equity shares from the public shareholders. Further, in terms of the Purchase Agreement, Reliance has acquired 8,13,90,598 equity shares (out of 13,00,00,000 equity shares), with present shareholding of 22,01,03,025 representing 29.90% of the paid-up equity capital of the Company, RDSPL is the largest shareholder of the Company.

At the Board Meeting of the Company held on January 18, 2016, Reliance acquired the sole control and management of the Company.