Sadhav Shipping Limited — Important, 11-03-2025: General Updates

The Board of Directors and the Audit Committee of Sadhav Shipping Ltd. have approved the incorporation of a joint venture company, tentatively named United Petro Sadhav Maritime Private Limited. The company will entail a subscribed capital of Rs. 3 crore and will focus on manufacturing, construction, repairs, and maintenance of ships, alongside developing port infrastructure for offshore supply bases and oil and gas exploration. Sadhav will subscribe to 3,00,000 equity shares at Rs. 10 each, totaling Rs. 30,00,000, representing a 10% shareholding in the new entity. This move signals strategic expansion into the shipping and maritime sector, offering potential growth opportunities for stakeholders. The joint venture is expected to be completed by the end of this fiscal year, pending requisite approvals.