Bharati Shipyard plans to acquire 51 percent equity stake and management control in south India-based Tebma Shipyards for Rs.75.75 crore, the company said Tuesday.“This significant acquisition of Tebma Shipyards is of strategic importance to us as we get access to their readymade and modern shipyards at Maloe in Karnataka, Kochi in Kerala and Chengalpet in Tamil Nadu,” said P.C. Kapoor, managing director Bharati Shipyard in a regulatory filing.
“The combined Bharti-Temba entity, with a total of 9 shipyards, will now be in a formidable position to offer cost-effective solution to their global and domestic customers,” he added.
At the Bombay Stock Exchange the shares of Bharati Shipyard were 2.16 percent high to trade at Rs.234.
