Bharati Shipyard acquires 14.89% stake in Great Offshore

Bharati Shipyard, India’s second biggest private shipbuilder, acquired 55.33 lakh shares at Rs 315 a share, amounting to 14.89 per cent in Great Offshore on Thursday.
“We have decided to acquire the pledged shares and hold it as a strategic long-term investment,” Mr P.C. Kapoor, Managing Director, Bharati Shipyard, said in statement. He said this would be a significant step towards company interest of offshore business.
Natural Power Ventures Pvt Ltd and Dhanshree Properties Pvt Ltd — two wholly owned subsidiaries of Bharati Shipyard — will hold the stake in Great Offshore. Earlier on, the holding company of Great Offshore had pledged the stake with Advitiya Urja Pvt Ltd and Vishudh Urja Pvt Ltd, two other wholly owned units of Bharati Shipyard.

Source: http://www.thehindubusinessline.com