Bharati Shipyard Ltd., one of the largest private sector shipyards in India, today announced the acquisition of the pledged shares equivalent to 14.89 per cent equity stake in Great Offshore Ltd. at a price of Rs 315 per share.

Natural Power Ventures Pvt. Ltd. and Dhanshree Properties Pvt. Ltd. the two 100 per cent subsidiaries of Bharati Shipyard Ltd. will hold the 14.89 per cent stake in Great Offshore Limited.

Earlier the holding companies of promoters of Great Offshore Ltd. had pledged 14.89% stake with Advitiya Urja Pvt. Ltd and Vishudh Urja Pvt. Ltd., the two 100% subsidiaries of Bharati Shipyard.

The shares of Bharati Shipyard settled the day at Rs 107 on BSE, up 11 per cent compared to its previous close, while Great Offshore counter ended the day at Rs 287, down 3 per cent.