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With major orders in hand Sadhav announces IPO, to open on 23rd February

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MUMBAI, India, Feb. 20, 2024 /PRNewswire/ — Sadhav Shipping Limited (SSL) plans to come out with its Initial Public Offering (IPO) of 40,18,800 equity shares of Rs 10 each for cash at a premium of Rs 85, aggregating to Rs 38.18-crore.

The IPO opens for public subscription on Friday, February 23, 2024, with the issue price fixed at Rs 95. The retail quota comprises 50 per cent of the net issue. The IPO will close on Tuesday, February 27, 2024.

Market Makers have reserved 2,02,800 equity shares, leaving a net issue of 38,16,000 shares to the public. The Issue and Net Issue constitute 28% and 26.59%, respectively, of the post-issue paid-up equity share capital.

Sadhav Shipping is a key player in varied segments of the Maritime domain in India. It is a ship owner, ship manager and operator in verticals of Offshore Logistics, Port Services and Oil Spill Response.

In Offshore Logistics, Sadhav Shipping supports the exploration and production of oil and gas in offshore fields of ONGC Ltd. with specialised marine assets meant for offshore operations.

Its service bouquet to ports includes, pilot boats, high-speed security boats, survey boats and work boats. With an increase in traffic in all major ports of the country, demand for ancillary services which the company provides has also correspondingly increased.

With respect to the third vertical of Oil Spill Response, Sadhav Shipping provides Tier-1 Oil Spill Response facility for ports; it is presently offering its services on long-term retainer contracts to Kandla, Vadinar, Mumbai, JNPT, Mangalore & Paradip Port.

The company intends to utilise the proceeds of the issue to purchase additional vessels to cater to its business requirements. It will also deploy the resources to modify existing vessels and boats.

The company recently bagged a contract from ONGC to operate one fast crew boat and has contracted with a notable owner for purchase of a suitable boat. This boat will be the first of its kind in India with 60 passenger capacity, 25 knots speed, motion compensated gangway, gyro stabiliser and Dynamic Positioning system. This boat will be used to transport men and materials from ONGC’s bases in Mumbai/Navi Mumbai to its offshore locations. Sadhav Shipping along with ONGC aims to improve the cost, time and ride quality of the passengers going to offshore Oil & Gas Platforms of ONGC.

The company constantly participates in the bidding process for port services and offshore logistics services across India and hence it wants to upgrade its vessels and boats to provide quality services and uncompromising safety of operations.

The company’s Chairman and Managing Director Capt. Kamal Kant Choudhury said: “India’s economy is growing robustly, and Sadhav Shipping is well-positioned to capitalize on the bright growth prospects of the Maritime industry.”

For the financial year ended March 31, 2023, the company clocked a Profit After Tax (PAT) of Rs 7.75-crore on a revenue of Rs 77.81-crore. For the financial year ended March 31, 2022, the company had clocked a revenue of Rs 69.55-crore. As of September 2023, the company has earned a PAT of Rs 4.07 crore on a revenue of Rs 33.69 crore for FY 24.

The company presently owns and operates 24 vessels of which 19 are owned and the rest rented.

Sadhav Shipping has a blue-chip clientele which includes big names such as ONGC Ltd., BPCL, DRDO, and major ports such as the Mumbai Port and Paradip Port.

About Sadhav Shipping Limited (SSL):

Incorporated in 1996 as Homa Offshore & Shipping Company Private Limited, the company changed its name to Sadhav Shipping Limited in 2006.

Promoted by Capt. Kamal Kant Choudhury (CMD), Mr. Vedant Choudhury (CEO) and others, Sadhav Shipping has grown steadily over the years, expanding services in various shipping and coastal logistics sectors.

Headquartered in Mumbai, the company possesses a robust order book, a healthy revenue visibility, and more than 50% of inflows in US dollars from blue-chip companies.

With a sailing team of over 200 officers and crew, led by an experienced management team, Sadhav Shipping continues to witness sustainable growth year-on-year. For more information, visit www.sadhav.com/

 For more information, please contact: Mr Job Cornelius: jc@trinityglobalservices.org, 98922 66156

Logo: https://mma.prnewswire.com/media/2343280/SSL_Logo.jpg

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

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SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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