Reliance Defence and Engineering

Reliance Defence and Engineering Limited is an Indian shipbuilding and Heavy industry company headquartered in Mumbai. The shipyard is located in Pipavav, Gujarat, at a distance of 90 km South of Amreli, 15 km South of Rajula and 140 km South West of Bhavnagar.HistoryPipavav Shipyard was established as a wholly owned subsidiary of SKIL Infrastructure in 1997 at Pipavav, Gujarat. In 2005, with funding from major Indian financial institutions, the company was spun off and registered as Pipavav Shipyard Limited. Pipavav Shipyard Limited raised additional financing from a number of private equity investors in 2007. The company went public in 2009 with listings on the BSE and the NSE.Pipavav Shipyard is the first corporate shipyard to be granted clearance to build warships and other vessels for the Indian Navy, though the initial licence limits this to up to 5 ships per year.On March 26, 2015, the Company successfully implemented debt restructuring by raising additional debt of INR 5,500 crore resulting in total debt line in excess of INR 12,000 crore (about US$2 billion). The Company has a market capitalization ranging between US$700 – 900 million and total enterprise value of USD 2.7 to 2.9 billion.