MoU4 Jun 2025, 03:12 pm
Garden Reach Shipbuilders & Engineers Ltd Enters MoU with Kongsberg, Norway for Polar Research Vessel Design Expertise
AI Summary
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has confirmed the signing of a non-binding Memorandum of Understanding (MoU) with M/s Kongsberg, Norway. The MoU aims to receive design expertise for the indigenous construction of a Polar Research Vessel (PRV). This MoU is a general understanding and does not involve any financial commitment or obligation, thereby having no financial impact on the company. The MoU is not a material event under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations).
Key Highlights
- GRSE has entered into a non-binding MoU with M/s Kongsberg for design expertise for indigenous construction of a Polar Research Vessel (PRV)
- The MoU is a general understanding and does not involve any financial commitment or obligation
- The MoU does not have any financial impact on the company and is not a material event under SEBI Listing Regulations
- The increase in trading volume of the company’s scrip appears to be purely market-driven
- GRSE continues to comply with disclosure obligations under SEBI Listing Regulations