Marine Electricals Reduces Stake in MEL Shipyard Private Limited Following Divestment
Marine Electricals (India) Limited has completed the divestment of a significant stake in its subsidiary, MEL Shipyard Private Limited. The transaction has resulted in the company reducing its shareholding in the entity, changing the nature of their business relationship with the shipyard.MEL Shipyard Private Limited was previously a wholly owned subsidiary of Marine Electricals (India) Limited. The completion of the sale means that the company's status regarding the shipyard has shifted significantly, effective from June 9, 2026.
The divestment involved Marine Electricals reducing its stake in MEL Shipyard Private Limited following an earlier intimation regarding the reduction of the holding. Consequent to this transaction, MEL Shipyard Private Limited is no longer a wholly owned subsidiary of Marine Electricals (India) Limited. Instead, it has become an Associate Company of Marine Electricals (India) Limited.
The shares in MEL Shipyard Private Limited were transferred in favor of Mr. Vinay Uchil and Mr. Venkatesh Uchil. The transaction marks a transition from direct control to a status of association for Marine Electricals regarding the shipyard entity.
MARINE Stock Price Movement
Marine Electricals (India) Limited gained ground today, with the equity settling at ₹243.95 in the post-market session after climbing 5.32%. The stock saw robust activity during trading, logging a total volume of 501,191 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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