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Pipavav to become global defense and offshore company in 4-5 years

31 Jul 2013 Evaluate

Pipavav Defence and Offshore Engineering Company is currently working with nearly 12 countries to build warships and offshore assets and it expects to become a global defense and offshore company over the next 4 to 5 years. The company is looking forward to joint marketing initiatives to tap growing global demands of warships and submarines through its prestigious joint venture with Mazagon Dock. It has also submitted the bids worth $2 billion in various countries with respective local partners.

Pipavav Defence is planning to raise $150 million through listing it in London Stock Exchange by October, 2013. It has shortlisted Investment Bankers for listing it on London Stock Exchange and two leading Global Investment Bankers will lead the initiatives. The company has received provisional approval from FIPB to raise $200 million.

Further, the investment will capitalize in subsidiaries to build wide spectrum defence manufacturing facilities and infrastructure for the global demand. The investment will also reduce overall debt equity and strengthen the balance sheet significantly.

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