Bharati Shipyard eyes majority stake in Tebma

The current equity capital of Tebma stands at Rs 77.8 million.

8220;This significant acquisition of Tebma Shipyards,is of strategic importance to us,as we get access to their ready-made and modern shipyards in Karnataka,Kerala and Tamil Nadu,8221; P.C. Kapoor,managing director,said.

8220;The Bharati-Tebma entity ,with a total of 9 shipyards,will now be in a formidable position to offer cost effective solutions to their global and domestic customers,8221; he added.

Tebma Shipyards has a current orderbook of approximately Rs 7.5 billion,the statement added. In October Bharati had said its orderbook was around Rs 50 billion.

At 9.31 a.m.,shares of the firm were up 7.49 per cent at Rs 246.2 in a weak mumbai market.