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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
The money raised through the Offer for Sale goes to existing investors, not the company.
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Garden Reach Shipbuilders & Engineers Limited (GRSE) is a premier Indian warship building company under the administrative control of the Ministry of Defence, Government of India. Incorporated in 1934 and nationalized in 1960, the Kolkata-headquartered shipyard primarily designs and constructs warships, patrol vessels, and auxiliary craft for the Indian Navy and Indian Coast Guard. The company operates multiple shipyard facilities along the Hooghly River in Kolkata, equipped with modern dry docks, building berths, hull construction shops, and fitting-out complexes. Beyond warship construction, GRSE manufactures pre-engineered portable steel bridges (Bailey bridges), marine diesel engines, and specialized deck machinery for commercial and naval applications. As a Miniratna Category I Defense Public Sector Undertaking (DPSU), GRSE maintains high indigenization levels across its naval platform designs, collaborating closely with domestic defense vendors and research organizations to deliver frigates, corvettes, landing craft, and offshore patrol vessels.
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Source: RHP • Analysis provided for informational purposes
Last Updated: 30 July 2026, 10:21 AM
Strong Order Book Visibility
Long-term revenue pipeline supported by firm shipbuilding orders from the Ministry of Defence and Indian Navy.
Established Defense Supplier
Proven track record as a primary warship builder for the Indian Navy with specialized technical capabilities.
Integrated Shipyard Infrastructure
Comprehensive manufacturing infrastructure including dry docks, modern berths, and marine engine manufacturing facilities.
Single Customer Reliance
High dependency on defense procurement contracts from the Ministry of Defence, Indian Navy, and Coast Guard.
Execution Timelines & Delays
Complex defense shipbuilding projects carry risks of supply chain bottlenecks and extended construction cycles.
Raw Material Cost Fluctuations
Fluctuations in steel, specialized equipment, and component prices can impact operating margins.
Garden Reach Shipbuilders & Engineers Limited
Alankit Assignments Limited
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