BSL undecided over second open offer for Great Offshore

MUMBAI: Bharati Shipyard Limited (BSL), which is close to success in the battle to take control over Great Offshore Limited (GOL), has not decided anything on second open offer, a top company official said in Mumbai.

"Bharati Shipyard management not taken any decision for another open offer to take control over Great Offshore," managing director, BSL, PC Kapoor told reporters here.

Currently, Bharati Shipyard holds 45.88 per cent equity stake in Great offshore translating into 1,70,84,352 number of shares at a total cost of Rs 812.45-crore. The average cost per share works out to Rs 475.55.

BSL today reported 3.56 per cent rise in Net Profit for the quarter ended December 31, 2009 to Rs 32.93-crore as compared to Rs 31.80-crore during the corresponding period last fiscal. "Our healthy order book position and efficient execution of orders has helped the company report higher growth," Kapoor said.

Currently, BSL has a order book position of Rs 4987.4-crore comprises of offshore segment like AHTS, OSVs and oil rigs. The unexecuted order book for BSL stood at Rs 2,471-crore.