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GRSE bullish on order book, files DRHP for proposed IPO

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Kolkata, March 31 (IANS) State-run Garden Reach Shipbuilders and Engineers Ltd (GRSE), which presently has Rs 21,000 crore in its order book and will also sign contracts with Indian Navy for an additional Rs 8000 crore projects, is expecting to double its value of production in the next 4-5 years, an official said on Saturday.

The ship maker has filed a draft red herring prospectus with the market regulator, Securities and Exchange Board of India (Sebi) in regards to its proposed initial public offer (IPO), company’s Chairman and Managing Director Rear Admiral Vipin Kumar Saxena said here.

“As of now, we have an order book of Rs 21,000 crore and we are expecting to sign contracts with Indian Navy soon for Rs 8,000 crore projects for constructing of 12 vessels. With this, our order value will touch to Rs 29,000-30,000 crore.

“We are expecting to double our value of production which was over Rs 900 crore in the last year and in 2017-18, our value of production will be higher than that of previous year,” he said.

According to him, two projects of Indian Navy were floated on a competitive bidding and the shipmaker have “competed against leading shipyards” to win them.

“The large survey vessel project would be of around Rs 2,500 crore and four ships are to be built. Another project of eight ASW (anti-submarine warfare) shallow water craft vessels was of about Rs 5,500 crore. We are in the process of signing one contract and hope these contracts would be signed soon,” he said.

On the proposed IPO, Sexena said: “We have filed the DRHP to SEBI and are waiting for its approval.”

The Central government was considering to sell upto 25 per cent its stake in the defence PSUs including GRSE.

After launching of the second fast patrol vessel of the series of five ships for the Indian Coast Guard, he said: “Two vessels have been launched and three more are required to be launched. Our intention is to complete the outfitting works of both the ships, which have been launched, in the next 8-10 months. We hope to deliver them in the financial year 2018-19.”

The ship was launched with its proposed name “Annie Besant” and Eastern Command chief, Lt Gen. Abhay Krishna was present at the occasion.

Saxena said remaining three ships are also in the different stages of constructions.

According to him, the total cost of the project for building five fast petrol vessels is to tune of Rs 350 crore while each vessel costs around Rs 69 crore.

The first of the five ships being constructed for the outfit was launched in December 2017.

These fast patrol vessels would be used for surveillance operations at sea along with anti-poaching, anti-smuggling operations.

GRSE has already delivered overall 25 ships to the Indian Coast Guard.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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