Deals16 Jul 2024, 08:37 pm
Garden Reach Shipbuilders & Engineers Ltd Secures INR 840 Crore Order from National Center for Polar and Ocean Research
AI Summary
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has received a Letter of Intent from the National Center for Polar and Ocean Research (NCPOR) for the Construction and Delivery of an Ocean Research Vessel (ORV). The contract, worth approximately INR 840 crore, has been signed between GRSE and NCPOR. The order is a domestic one, awarded by a domestic entity, and will be executed by GRSE within a period of 42 months. This announcement is in compliance with Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- GRSE secures INR 840 crore order from NCPOR for the Construction and Delivery of an Ocean Research Vessel (ORV).
- The order is a domestic one, awarded by a domestic entity.
- The execution period for the order is 42 months.
- This announcement is in compliance with Regulation 30 and other applicable provisions of the SEBI Listing Regulations.
- GRSE promoters do not have any interest in the entity that awarded the order.