Company Overview of ABG Shipyard Limited
ABG Shipyard Limited builds and repairs ships in India and internationally. Its products include side loader/newsprint/container ships, diesel electric propulsion diving support vessels, high speed aluminum interceptor vessels, bollard pull MPVs, dynamic positioning diving support vessels, well test/dynamic positioning supply vessels, well test/supply vessels, azimuthing stern drive bollard pull tugs, anchor handling tugs/supply vessels, multi-utility vessels, mini bulk carriers, and self loading/unloading bulk cement carriers. The company offers repair services, such as jumboising, ship conversion, refurbishment, modernization, upgradation, retrofitting, and rebuilding services that are off...
13, Mathew Road
Founded in 1985
Key Executives for ABG Shipyard Limited
Chief Executive Officer, Managing Director, Director, Chairman of Corporate Social Responsibility Committee and Member of Share Transfer & Investor Grievance Committee
Total Annual Compensation: $2.8M
Total Annual Compensation: $4.6M
Whole-Time Director and Member of Finance & Operation Committee
Total Annual Compensation: $2.6M
Executive Director, Member of Share Transfer & Investor Grievance Committee, Member of Nomination-Cum-Remuneration Committee, Member of Finance & Operation Committee and Member of Corporate Social Responsibility Committee
Total Annual Compensation: $920.0K
Compensation as of Fiscal Year 2014.
ABG Shipyard Limited Key Developments
ABG Shipyard Limited Announces Executive Changes
Jul 7 15
ABG Shipyard Ltd. has announced that Mr. Nimesh S. Shah has resigned from the post of company Secretary and Compliance officer of the company with effect from April 29, 2015. Subsequently, the company has appointed Mr. Dheeraj Sharma as Company Secretary & Compliance officer of the company with effect from May 01, 2015. The appointment will be placed before the ensuing Board Meeting as required under Section 179 read with Section 203 of the Companies Act, 2013.
ABG Shipyard Confirms Discussion With Privinvest
Jun 12 15
ABG Shipyard Limited (BSE:532682) has confirmed receiving firm expression of interest from Privinvest Holding SAL. ABG is in discussion for a strategic stake sale.
ABG Shipyard Reportedly Selling Stake To Privinvest
Jun 11 15
ABG Shipyard Limited (BSE:532682) is in talks with Privinvest Holding SAL for selling a stake, sources with direct knowledge said, as reported by Economic Times. Privinvest is expected to buy up to 49% stake in ABG Shipyard, while the promoters of ABG will continue as a minority shareholder post the deal, sources said. ABG and Privinvest entered into an exclusivity period for the transaction on May 29, 2015. In the first leg of transaction, Privinvest could be buying 25% stake in ABG Shipyard via issuance of fresh equity. This will trigger an open offer for the shares of ABG Shipyard. Privinvest may get 3 board seats and new management to ABG Shipyard post the deal. ABG Shipyard aims to exit INR 72 billion Corporate Debt Restructuring (CDR) by the end of fiscal year 2016 and requires INR 10 billion- INR 12 billion fund infusion to exit CDR and Privinvest is expected to provide for it, a source said. Lenders to ABG Shipyard will be required to give their final nod for the deal to be completed. Privinvest Holding did not comment on ET NOW's query regarding the deal. The spokesperson of ABG Shipyard also didn’t comment.
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