The offshore vessel specialist could raisebetween $100m and $150 by selling a minority stake to an unnamed European company,according to two company executives cited by the Live Mint website.
Pipavav is likely to close the deal in two months, which couldspell the end for its planned $150m London IPO.
The insiders said the new investor has a “huge globalpresence.”
The yard wants money for a drydock conversion and toincrease defence capabilities
In November 2012, Sweden’s Saab put in $38m for a 3.5% stake.
