Deals2 Nov 2026, 05:30 pm
GRSE Secures ₹32,000 Cr Corvette Contract from Indian Navy
AI Summary
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has signed a significant contract with the Indian Navy for the construction of five Next Generation Corvettes (NGCs). The total value of this domestic order is ₹32,000 Crore. The project is slated for execution within 09 years and 04 months from the date of the first stage payment. This contract does not involve any interest from the promoter/promoter group/group companies and is not considered a related party transaction. The company has confirmed that the order falls within the scope of SEBI (LODR) Regulations, 2015.
Key Highlights
- GRSE signs ₹32,000 Crore contract for 5 Next Generation Corvettes.
- Contract awarded by the Indian Navy, a domestic entity.
- Project execution timeline is 9 years and 4 months.
- No promoter interest in the awarding entity.
- Transaction is not a related party deal.
Price Impact
More from GRSE