Target Entity: Green Maritime Propulsion Private Limited (CIN: U27103TS2026PTC217521)

Type of Deal: Joint Venture (Minority stake acquisition)

Stake/Capacity: Cochin Shipyard Limited (CSL) subscribed to 36 lakh equity shares representing 40% of the equity share capital of the JV Company. HBL Engineering Limited subscribed to 54 lakh equity shares representing 60% equity share capital.

Deal Value: ₹3.60 crore invested by CSL for its 40% stake. Total initial share capital of the JV Company is ₹9 crore divided into 90 lakh equity shares of face value of ₹10 each. Shares were subscribed at face value.

Funding Source: Cash consideration from internal resources.

Financial Impact: The disclosure does not provide specific financial impact metrics such as revenue contribution, EBITDA impact, margin profile, or accretion/dilution expectations.

Timeline: The JV Company was incorporated on June 11, 2026. The acquisition is complete as shares have been subscribed.

Strategic Rationale: To leverage the complementary core strengths of both CSL and HBL for developing indigenous capabilities and products for the maritime sector, catering to both domestic and global markets. The collaboration aims to capitalize on opportunities arising from the growing adoption of electric and hybrid propulsion systems in the maritime space, in line with the Government of India's vision of Aatmanirbhar Bharat and emerging trends in sustainable maritime technologies.

Approval Status: CSL, being a Government of India Company, obtained concurrence from the Ministry of Ports, Shipping and Waterways (MoPSW)/Department of Investment and Public Asset Management (DIPAM). All required governmental approvals have been obtained.

Reference Regulation: SEBI LODR Regulations, Regulation 30 read with Para A of Part A of Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Additional Information:

  • The JV is not a related party transaction
  • Industry classification: Maritime Electric Mobility and Energy Storage Technology
  • Registered office located in Hyderabad, Telangana, India