GRSE Rs 1032 Cr ONGC Order; Niva Bupa, ADF Foods News

Garden Reach Shipbuilders & Engineers (GRSE) has secured a significant order from Oil and Natural Gas Corporation (ONGC), valued at Rs 1032.07 crore. This contract involves the construction of four Platform Supply Vessels, marking a notable development for the shipbuilding firm.

GRSE’s Major ONGC Contract

The company received a Notification of Award (NOA) for this substantial project. GRSE primarily serves the Indian Navy and Coast Guard, making this ONGC order a key addition to its portfolio.

• Contract Value: Rs 1032.07 crore (including GST)
• Client: Oil and Natural Gas Corporation (ONGC)
• Project Scope: Construction of Four Platform Supply Vessels
• Completion Timeline: Within 48 months from the NOA date

Niva Bupa Approves Rs 500 Crore NCD Issuance

In a separate corporate development, Niva Bupa Health Insurance Company has received approval to raise capital up to Rs 500 crore. This fundraising will be executed through the issuance of non-convertible debentures (NCDs).

The company’s Board of Directors gave their approval for this private placement during a meeting held on July 30, 2026. These NCDs will be listed, rated, unsecured, subordinated, and redeemable.

• Fundraising Target: Up to Rs 500 crore
• Instrument Type: Listed, rated, unsecured, subordinated, redeemable, non-convertible debentures (NCDs)
• Issuance Method: Private placement, in one or more tranches
• Approval Date: Board meeting on July 30, 2026

ADF Foods Expands European Footprint in Ireland

ADF Foods has also made a strategic move to bolster its presence in the European market. The company has secured approval to establish a wholly-owned step-down subsidiary in Ireland.

This incorporation is a key component of ADF Foods’ broader growth strategy across Europe. The subsidiary is expected to facilitate expanded operations and market penetration in the region.

• Expansion Target: Growth plans across Europe
• New Entity: Wholly-owned step-down subsidiary
• Location: Ireland