|₹1.55 / ₹0
Incorporated in Aug'93, Alang Marine is primarily engaged in ship repair, ship-building and ship-breaking. The company started by acquiring - the Gogha Shipyard - an existing division of Chowgule and Company which was engaged in ship building activities for a consideration of Rs 92 lac. Company is lead by Ramzanali A Asaria as chairman, Debashis Bir and Maheboob R Asaria as managing directors. In 1994, a promoter, Maheboob R Asaria, disinvested a part of his holding to get the company's shares listed on the stock exchanges. The company came out with a public issue in Jan. '96 to part-finance the expansion of its ship repair capacity. The project envisages upgradation of the company's existing slipway system by providing a synchronised ship lift docking and transfer system. The new ship repair complex will have the facility to repair ships of upto 3500 tonnes lifting capacity (TLC) or 10,000 dwt.