SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ABG Shipyard hikes stake in Great Offshore, raises open offer price

30 Jul 2009 Evaluate

The bid to control Great offshore took a new turn on Wednesday after ABG Shipyard acquired over 19.26 lakh shares of Great Offshore in separate bulk deals on the BSE and NSE at Rs 450 a share. This has automatically raised the open offer price to Rs 450 (according to the Securities and Exchange Board of India regulations for determining the open offer price).

 

Confirming the deal, Mr Dhananjay Datar, Chief Financial Officer, ABG Shipyard Ltd, said that through purchase of additional shares through block deals from various mutual funds (DSP BlackRock and Sundaram BNP Paribas), ABG’s stake in Great Offshore has increased to 7.32 per cent from 2.02 per cent.

 

On June 23, Great Offshore found itself at the centre of a takeover battle after ABG Shipyard through its fully-owned subsidiary Eleventh Land Developers made an open offer to acquire 32.12 per cent stake in the offshore services firm at Rs 375 a share, 9 per cent higher than Bharati’s offer price of Rs 344 a share. Currently, Bharati Shipyard holds 19.47 per cent in Great Offshore. In July, Bharati Shipyard had increased its open offer price to Rs 405 a share.

crackcrack
Peers

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×