Reliance Defence to change name to Reliance Naval and Engineering Ltd
Mumbai: Reliance Infrastructure controlled Reliance Defence and Engineering Ltd (RDEL) is all set to change its name to Reliance Naval and Engineering Ltd (RNEL).
The change of name is in line with the company’s focus on building capabilities for the Indian Navy and Coast Guard, it is learnt.
The company will seek shareholders’ approval for the change in name at the annual general meeting on August 22, 2017.
RDEL was earlier known as Pipavav Defence and Offshore Engineering Company Ltd.
Reliance Group acquired the controlling stake in Pipavav Defence in 2016, and changed the name of the company to Reliance Defence and Engineering Ltd, which is now being changed to Reliance Naval and Engineering Ltd.
RDEL has submitted bids for Rs 30,000 crore orders, including Landing Platform Dock (LPD) and Anti-Submarine Warfare Shallow Water Craft (ASW SWC) for the Indian Navy. Bids are expected to be opened in September this year.