Shiprepairer Western Indian Shipyard (WIS) is raising nearly $4m through a share and warrants sale.
The company said its board had approved a placement of 92.5m shares at INR 2 each for a total of INR 185m ($2.74m).
WIS can also issue up to 32.5m warrants for more shares at the same price.
Domestic engineering group Bermaco Energy is the buyer.
The deal is subject to a vote by shareholders at the annual general meeting.
In
