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Pipavav Defence inks pact with international strategic investor

22 Nov 2011 Evaluate

Pipavav Defence and Offshore Engineering Company has roped in an international strategic investor. The company has issued 8,880 million shares of face value of Rs 10 each of to an international strategic investor at a price not less than Rs 110. The investor is foremost and very reputed global conglomerate with strong interest in defence sector and will bring in critical technology required for the manufacture of complex and critical equipments.

Pipavav Defence and Offshore Engineering Company, formerly Pipavav Shipyard, is engaged in defence, offshore, marine and engineering sectors. The company has two units, one special economic zone (SEZ) unit spread over around 95 hectares of land and another export oriented unit (EOU) spread over around 103.92 hectares of land.

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