RIL's Mukesh Ambani in talks to buy out Jai Corp's 24% stake in NMSEZ

If deal materialises, Ambani will be the largest shareholder in venture with 48.1% stake

Reliance Industries Chairman Mukesh Ambani, through his personal investment firms, is in talks to buy out BSE-listed Jai Corp’s 24 per cent stake in Navi Mumbai Special Economic Zone (NMSEZ). If the deal goes through, Ambani will be the largest shareholder of the NMSEZ with a 48.1 per cent stake.
 

Last week, the NMSEZ project received the go-ahead from the Maharashtra government-owned City and Industrial Development Corporation (Cidco) for its conversion into an industrial city. 

Dronagiri Infrastructure, a company jointly promoted by Ambani, Jai Corp, and SKIL Infrastructure, owns a 74 per cent stake in the NMSEZ, while Cidco owns the