ABG Shipyard scouts for investors to improve finances

NEW DELHI: ABG Shipyard today said it is scouting for investors for improving its finances and its operational performance.

"The company is exploring the possibility of the investors so as to improve its financial and operational strength," ABG Shipyard said in a regulatory filing to the BSE.

The company said that talks are at a preliminary stage. At present, ABG Shipyard's total order book stands at Rs 12,000 crore, of which defence orders are worth Rs 1,500 crore, the rest being commercial.

ABG Shipyard is a leading private sector shipbuilding yard with a customer base all around the world. The company has executed many Shipbuilding and Ship-repair contracts for both export and domestic markets.

Shares of the company closed at Rs 226, down 2.02 per cent on the BSE.