Cochin Shipyard Limited has informed the exchanges about the incorporation of its joint venture company Green Maritime Propulsion Private Limited on June 11, 2026. The development follows the joint venture agreement signed with HBL Engineering Limited on March 25, 2026.
The joint venture company, registered in Hyderabad, Telangana, will focus on developing electric mobility technology and energy storage solutions for the maritime sector. The initiative aims to serve both domestic and global markets.
The initial share capital of the joint venture stands at Rs 9 crore. Cochin Shipyard has subscribed to equity shares worth Rs 3.60 crore, representing a 40% stake in the venture.
HBL Engineering Limited has subscribed to equity shares worth Rs 5.40 crore, holding the remaining 60% of the equity share capital. Both parties have subscribed at face value.
The collaboration brings together the core strengths of both companies to build indigenous capabilities and products for the maritime sector. This partnership supports the government's Aatmanirbhar Bharat vision and is expected to capitalize on the growing adoption of electric and hybrid propulsion systems in maritime transportation.
Cochin Shipyard, being a government company, has obtained the necessary concurrence from the Ministry of Ports, Shipping and Waterways and the Department of Investment and Public Asset Management for this venture. The shares have been fully subscribed with cash consideration.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.