ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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HEG

ALANO MARINE, an existing profit- making company which originally acquired an existing division of Chowgule and Co. is today one of the largest private sector shipyards in the country and is located on the western coast of the country with facilities for ship building and ship repairs under one roof The yard enjoys proximity to the major coastal highway connecting Bhavnagar to Okha, via Veraval/Porbandar which ensures intrinsic advantages of a wide sea frontage, navigability and proximity to user locations. The existing infrastructure has the capacity for repairing and building ships up to 4,000 tonnes deadweight and can demolish ships up to 40,000 light displacement tonnage in addition to being able to undertake fabrication jobs for the offshore and port industry. The company is entering the capital market with an offer for sale of 7,51,500 equity shares of Rs 10 each at a premium of Rs 30 per share. The issue is being made to enable it to enlist its shares on the stock exchanges. The share offer is being made by the promoters whose stake in the company will stand reduced to 75 per cent after the issue. The public issue which opens for subscription on July 25 will be lead managed by Weizmann.

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