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Bharati Shipyard has agreed to acquire 51 per cent equity stake in the Chennai-based Tebma Shipyard for Rs 75.75 crore. With the deal, Bharati Shipyard will get management control in the South-based company. Currently, ICICI Venture holds a 53 per cent stake in the company, existing promoters hold 4.93 per cent while the rest is held by the public.

 Bharati Shipyard will be issued fresh equity at a price of Rs 19.20 a share. This will expand the post-issue equity capital base of Tebma to Rs 77.36 crore. The current equity capital of Tebma Shipyards is Rs 7.78 crore. After the infusion, ICICI Venture's stake will come down to 44.28 per cent. ABG Shipyard was also in the race to acquire the company.

Bharati Shipyard will get access to the Tebma's ready-made and modern shipyards in the South. Tebma has shipyards at Malpe in Karnataka, Kochi in Kerala and Chingleput in Tamil Nadu. Tebma has a current order book of approximately Rs 750 crore, which mainly consists of vessels required for the global exploration and production sector.crackcrack

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