Ovira Logistics has acquired 5.11 crore shares or about 7.7% stake in Pipavav Shipyard at Rs 80.83 a share under bulk deal on Monday. Infrastructure Leasing and Financial Services, IL&FS Financial Services and IL&FS Employee Welfare Trust sold the shares.
Pipavav Shipyard’s principal activity is to set up shipyard project. It is the sole sponsor of training at two Industrial Training Institutes (ITIs) situated at Rajula and Mahuva, Gujarat, in the vicinity of the company's shipyard.
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