Announced Thu, 23 Jul · 15:49 IST
SEAMEC signs USD 9.96M 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
₹1401.00
prior close
₹1410.00
base price
After-mkt
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AI summary
SEAMEC Limited entered a diving agreement with HAL Offshore Limited worth about USD 9.96 million (around Rs 83 crore) for subsea diving services on the ONGC vessel SAMUDRA SEVAK, which is managed by SEAMEC. The deal is a related party transaction because HAL Offshore is SEAMEC's promoter with a 70.77 percent stake, but it is priced at arm's length and in the normal course of business. The contract was executed on July 23, 2026.
Likely market impact
Adds about USD 9.96 million of order book value from the promoter entity, supportive but investors should note it is a related party deal at arm's length terms.