Company History - Swan Defence and Heavy Industries
The Company was incorporated as Pipavav Ship Dismantling and
Engineering
Limited on October 17, 1997 under the Companies Act. Subsequently, in
April 2005,
the main business of the Company was changed from ship dismantling to
shipbuilding
and ship repair. Pursuant to a special resolution adopted by the
shareholders of the
Company at an extraordinary general meeting held on April 19, 2005,
the name of
the Company was changed to Pipavav Shipyard Limited to reflect the
change in the
primary business focus of the Company. The fresh certificate of
incorporation to reflect
the new name was issued by the RoC on April 29, 2005. The Company
received its
certificate of commencement of business under the Companies Act on
December
2, 1997 from the RoC.
With effect from August 18, 2005, the registered office of the
Company was changed
from B-1, Maharaja Palace, University Road, Navrangpura, Ahmedabad -
380 009,
Gujarat, India to 904, Shukan Towers, Near Judges Bungalow, Police
Chowky,
Bodakdev, Ahmedabad - 380 054, Gujarat, India. The registered office
of the Company
was subsequently changed in October 2006 to Pipavav Port, Post
Ucchaya, Via
Rajula, Rajula - 365 560, Gujarat, India.
Major Events:
Date Events
October 1998 The Company acquired the ship dismantling business
of GPPL, a
company originally promoted by SKIL. In
the same month, the Company
was granted a sub-lease by GPPL for the
establishment and operation
of a ship dismantling, repair and
building facility in Pipavav Port.
October and
November 2000 Subscription by Unit Trust of India to 12.5%
optionally convertible
cumulative preference shares.
April 2005 The main business of the Company was changed
from ship dismantling to
shipbuilding and ship repair. The
Company also changed its name to reflect
the change in its primary business
focus.
January 2006 The Company entered into a Technical Assistance
Agreement with SembCorp,
pursuant to which SembCorp agreed to
assist the Company in the planning,
designing and construction of the
Pipavav Shipyard until the commissioning
stage and to provide technical and
management assistance in relation to the
Companys business.
April 2006 The Company received approval from the
Development Commissioner, Kandla
SEZ, for setting up a new undertaking
under 100% EOU scheme for manufacture
of ships, ship repairs at the site of
the Companys registered office.
September 2006 The Company entered into a Basic Agreement for
Technical Cooperation with
KOMAC, pursuant to which KOMAC agreed
to supply designs and provide
technical services for the Companys
shipbuilding project.
September 2006 Subscription by 2i Capital PCC, a Mauritius based
venture capital investor, to
optionally convertible bonds of the
Company.
September 2006 Subscription by EXIM Bank to Equity Shares of the
Company.
October 2006 The Company entered into a share purchase
agreement with Metdist Industries
Holdings Limited pursuant to which
E Complex became a wholly owned
subsidiary of the Company.
November 2006 The Company secured its first order for
construction of four 74,500 DWT
Panamax bulk carriers from Golden
Ocean Group Limited, an internationally
reputed ship owning company. In
addition, the Company also entered
into an agreement with Golden Ocean
Group Limited for the construction of
two optional ships.*
December 2006 The Company secured its second order for
construction of four 74,500 DWT
Panamax bulk carriers from SETAF
S.A.S. France, a member of the Bourbon
Group in France.*
December 2006 The Company secured orders for twelve 74,500 DWT
Panamax bulk carriers
from the AVGI Maritime Services
S.A., a company controlled by the Kyrini
Group of Greece. The Company also
granted options to the AVGI
group to acquire four additional
vessels.*
February 2007 2i Capital PCC further subscribed to optionally
convertible bonds of the Company.
March 2007 Private equity investment by Trinity Capital
(Nine) Limited, a Mauritius based
investor.
March 2007 Private equity investment by New York Life
Investment Management Fund
(FVCI) II, LLC, a Mauritius based
venture capital investor.
May 2007 Allotment of Equity Shares on account of
conversion of 12.5% optionally
convertible cumulative preference
shares held by Unit Trust of India.
August 2007 Golden Ocean Group Limited exercised its option
and confirmed orders for
constructions of two 74,500 DWT
Panamax Bulk Carriers.
September 2007 Punj Lloyd Limited acquired Equity Shares of the
Company and became a
Promoter of the Company with an
understanding that it will carry out its
offshore business in India through
the Company and thereby expand the
Companys business to include
offshore fabrication and construction.
September 2007 Private equity investment by Citadel Equity Fund
Ltd. CEFL subsequently
transferred its shareholding in the
Company to ABN AMRO.
September 2007 Allotment of Equity Shares to 2i Capital PCC on
account of conversion of the
optionally convertible bonds of the
Company.
November 2007 Subscription by IDBI, IL&FS Trust Company Limited
(as Trustee of SCB Asian
Infrastructure Fund), SembCorp and
The India Fund Inc. (a Blackstone Group
fund) to Equity Shares of the
Company.
December 2007 Subscription by The Asia Opportunities Offshore
Markets Fund Limited (a
Blackstone Group fund) and Merrill
Lynch International to Equity Shares
of the Company.
January 2008 Subscription by Galleon Special Opportunities
Master Fund, SPC Limited -
Galleon Asian Crossover Segregated
Portfolio, Manz Retail Private Limited
(Future Group) and Deutsche Bank AG
to Equity Shares of the Company.
January 2008 The Company received approval from the
Development Commissioner, Kandla
SEZ, for setting up a unit in the SEZ
being developed by E Complex in villages
Rampara and Lunsapur for undertaking
authorized operations of
manufacturing ships, vessels, hulls
and off-shore activities.
February 2008 The Company commenced steel cutting for the
construction of the first four
ships with effect from February 11,
2008.
April 2009 The Company commenced commercial production
with effect from April 1, 2009.
June 2009 The Company received a notification of award of
contract of 12 OSVs from ONGC.
2010
-The company has appointed Cmde (Retd) M. Jitendran, VSM as the Chief
Executive Officer of the Company
-Pipavav Shipyard has signed Protocol with M/s. Rosoboron Export
which is a Russian Government arm for Defence co-operation with
foreign Governments.
-Pipavav Ship singed MOU with SAAB Dynamics AB, part of Wallenberg
Group
2011
-The Company has signed a Memorandum of Understanding (MoU) with
Northrop Grumman Overseas Service Corporation, Delaware, USA
-The Company has signed MoU with Babcock Group, UK to build next
generation aircraft carriers for Indian Navy
-Pipavav Defence and Offshore Engineering in MoU with France-based
Airbus Industry
-Company has changed its name from Pipavav Shipyard Ltd. to Pipavav
Defence & Offshore Engineering Company Ltd.
2012
-Pipavav Def - DCNS and Pipavav team up to address India's naval
needs
-Pipavav signs agreement with SAAB Technology
- Pipavav Defence and Offshore Engineering Company Limited and
Mazagon Dock Limited, a defence public sector undertaking, has
entered into Joint Venture named Mazagon Dock Pipavav Defence Private
Limited.
2013
2013
- Pipavav Defence-L&T consortium wins $170 mn contract from ONGC
- Pipavav Defence and Offshore Engineering Company Limited (PDOC) has
announced that it has successfully delivered its fifth Panamax bulk
carrier, The Golden Diamond
- Gujarat-based private ship builder Pipavav has claimed that the
Defence Ministry has approved a joint venture between Pipavav
shipyard and state-owned Mazgaon Dock Limited (MDL).
- Pipavav Defence and Offshore Engineering Company Ltd has informed
about Contract for the conversion of SAGAR PRAGATI.
- Pipavav Defence and Offshore Engineering Company Limited (Pipavav
Defence) bags contract to build two specialised Offshore vessels for
its European client.
2014
- Company bagged the order for Construction of Training Ship for the
Indian Coast Guard, Ministry Of Defence worth approx. Rs. 221 Crore.
- The Company apppointed Mr. Ashok Kumar Sahoo on the Board
2016
-Pipavav Defence changes its name to Reliance Defence & Engineering
2017
-Company name has changed to Reliance Naval and Engineering Ltd. from
Reliance Defence and Engineering Ltd..
-Reliance Defence and Engineering Limited Launches First Two Naval
Offshore Patrol Vessels (NOPVs).
2018
-Reliance Naval Launches largest next generation training ship for
IndianCoast Guard.
