Pipavav To Become Top Defence Manufacturer: Anil Ambani

BENGALURU: Within days of acquiring controlling stake in Pipavav Defence and Offshore Engineering , Reliance Group chief Anil Ambani today said he will make it the country's biggest defence manufacturer.

Addressing about 4,000 Pipavav Defence and Offshore Engineering workers during his maiden visit to the facility in Gujarat, he said he will "leave no stones unturned to make it India's largest defence manufacturing company". Ambani along with top officials of the group also met Nikhil Gandhi of Pipavav Group at Pipavav, about 300 km from here.

The development comes barely days after Reliance Infrastructure, in the biggest deal in the defence sector announced acquisition of controlling stake in Pipavav Defence and Offshore Engineering for up to 2,082.3 crore. Reliance Infra has said that it will buy 18 per cent stake from promoter group led by Nikhil Gandhi at 63 per share, aggregating to 819 crore. The company will make an open offer for an additional 26 per cent shares at 66 apiece, totalling 1,263.3 crore.
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