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Showing posts with label Bharati Shipyard. Show all posts
Showing posts with label Bharati Shipyard. Show all posts
Friday, August 19, 2011
Friday, November 26, 2010
Saturday, August 14, 2010
Friday, July 23, 2010
Friday, June 04, 2010
Saturday, May 08, 2010
Monday, February 01, 2010
Thursday, October 29, 2009
Wednesday, October 28, 2009
Saturday, July 11, 2009
Bharati Shipyard hikes open offer price for Great Offshore
Bharati Shipyard Ltd., which is locked in a bidding war with local rival ABG Shipyard Ltd. for acquiring Great Offshore Ltd., increased its open offer price for the target company. Bharati, which holds 19.47% of Great Offshore, lifted its offer to Rs405 per share from Rs344 a share. Natural Power Ventures Pvt. Ltd., along with Bharati Shipyard and Dhanshree Properties Pvt. Ltd. aim to acquire up to 78,26,788 fully paid-up equity shares of Rs10 each, representing 20% of the Emerging Voting Capital of the Target Company. Accordingly, the open offer size stands revised to Rs3.17bn.
On June 23, Kotak Mahindra Capital Co. on behalf of Eleventh Land Developers Pvt. Ltd. along with ABG Shipyard Ltd. proposed to acquire 1,25,71,072 shares of the Target Company at Rs375 per Share in cash.
On the same day, DPPL acquired 16,99,611 shares of the Target Company, constituting 4.58% of the paid-up share capital at a price of Rs403 per share through a block deal from Laadki Trading & Investment Ltd., Bharat Kanaiyalal Sheth, Ravi Kanaiyalal Sheth, Jyoti B Sheth and Amita Ravi Sheth. Consequent to this acquisition, the cumulative shareholding of Bharati Shipyard in the Target Company aggregates to 19.47% of the paid-up share capital.
Saturday, June 27, 2009
Great Offshore...ABG enters race; Bharati ups ante
Dhanshree Properties Pvt. Ltd., on behalf of Bharati Shipyard Ltd., on June 23, acquired 16,99,611 equity shares of Rs 10 each of Great Offshore Ltd., constituting 4.58% of the current paid-up share capital of the target company, at a price of Rs 403.00 per equity share through a block deal. The transaction was done with some members of the Sheth family, the original promoters of Great Offshore. The deal took place shortly after ABG Shipyard Ltd. threw its hat in the ring for the acquisition of a substantial stake in Great Offshore. ABG Shipyard offered a price of Rs375 per share to acquire close to 32% stake in Great Offshore.
Bharati Shipyard will surpass the counter bid by ABG Shipyard for a controlling stake in Great Offshore, Managing Director P.C. Kapoor told reporters in Mumbai, raising prospects of a protracted bidding war. "We will be making another revised offer, the timing will be a few days hence, and what the price will be I cannot say right now," he said. Bharati Shipyard has invested Rs2.45bn till now to acquire about 19.5% in Great Offshore, Kapoor said. ABG Shipyard currently holds 2% in Great Offshore. Kapoor hinted that the bid could rise above Rs403 and total investment in Great Offshore could top Rs4bn.
It may be recalled that on June 4, Dhanshree Properties, Natural Power Ventures Pvt. Ltd. along with Bharati Shipyard had announced a public offer to acquire on a voluntary basis up to 78,26,788 fully paid-up equity shares of Rs10 each of Great Offshore, constituting 20% of the emerging voting capital of the target company at a price of Rs344 per share.
Meanwhile, ABG Shipyard's Managing Director Rishi Agarwal said that the company will not come back with any immediate reactions," after Bharati announces a revised price. "We will evaluate at the right time," he told reporters in Mumbai when asked if it would make a counter offer again. "Next step is we'll sit and decide what's the best way forward." ABG Shipyard plans to fund the acquisition from its cash reserves of Rs2.5-3bn, Agarwal said. Bharati Shipyard has substantial support from some major shareholders of Great Offshore, including the Sheth family, Kapoor said. The company is also in talks with some key financial partners and cannot rule out tying up with a strategic partner for this deal, he added.
Saturday, May 09, 2009
Bharati Shipyard acquires pledged stake in Great Offshore
Bharati Shipyard announced the acquisition of the pledged shares equivalent to 14.89% equity stake in Great Offshore Ltd. at a price of Rs315 per share. Natural Power Ventures Pvt. Ltd. and Dhanshree Properties Pvt. Ltd. - the two wholly owned subsidiaries of Bharati Shipyard will hold the 14.89% stake in Great Offshore. Earlier, the promoters of Great Offshore had pledged 14.89% stake with Advitiya Urja Pvt. Ltd. and Vishudh Urja Pvt. Ltd., two 100% subsidiaries of Bharati Shipyard. Shares of Bharti Shipyard rallied by over 11% to Rs106 after hitting an intra-day high of Rs113 and a low of Rs100. "We have decided to acquire the pledged shares and hold it as a strategic long term investment. We consider the investment in Great Offshore as a significant step towards the company’s aspiration to have foothold in all spheres of the offshore industry. The investment would generate long term benefits for the company and add strength to the company’s position in the international market," said P.C. Kapoor, Managing Director, Bharati Shipyard.
Wednesday, February 11, 2009
Friday, November 14, 2008
Thursday, August 14, 2008
Sunday, April 20, 2008
Thursday, March 13, 2008
Wednesday, January 30, 2008
Tuesday, January 22, 2008
Saturday, January 12, 2008
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