Loss-making Bharati Defence and Infrastructure is to spin off its Goan shipyard Pinky.
The former Bharati Shipyard will make the plant a separate entity and bring in a Russian naval shipbuilder as a partner.
Edelweiss Asset Reconstruction Co (Edelweiss ARC), which holds nearly 75% of Bharati's outstanding debt, is in talks over selling a 49% stake in Pinky.
Sameer Kaji, Edelweiss ARC’s consultant, told the Livemint website: “We are adopting a two-pronged approach for the revival of Bharati Defence.
“Firstly,
