Announced Thu, 23 Jul · 15:51 IST
SEAMEC signs USD 9.42 mn diving services deal with HAL Offshore for ONGC vessel
Business Updates View source PDF
SEAMECLTD · price
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Price reaction · full curve 14 horizons · vs prior close
+0.6%1-day move
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₹1410.00
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AI summary
SEAMEC Limited has entered into a Diving Agreement with HAL Offshore Limited on July 23, 2026, for diving and subsea services on the ONGC vessel 'SAMUDRA PRABHA' managed by SEAMEC. The total contract value is around USD 9.42 million (about Rs 80 crores) exclusive of GST. HAL Offshore is the promoter of SEAMEC with 70.77 percent shareholding, making this a related party transaction carried out at arms length and in the normal course of business.
Likely market impact
Brings a sizeable new contract for SEAMEC's diving services business; the related-party nature with promoter HAL Offshore is the key disclosure point.