​Dilip Shanghvi, India’s richest man, could soon be building ships

Dilip Sanghvi , the founder of Sun Pharma who recently hogged limelight for being the richest man in India surpassing the Ambanis and Adanis, may soon be the messiah for the cash strapped shipbuilder ABG Shipyard. The private shipbuilder, which operates a ship repairing unit in Goa has been pinning hopes on the Indian multi millionaire. As per a report by The Economic Times, Shanghvi's investment arm Dilip Shanghvi Family & Associates (DFA) has been approached to buy 30% stake in ABG Shipyard for around Rs 2000 crore.

"Dilip Shanghvi's arm is said to be evaluating the deal and its still early days" a source with direct knowledge has told the financial daily. L&T is also in the fray to buy a stake in ABG Shipyard, sources confirmed to ET. ABG Shipyard deal has been shown to M&M and Munjal family in the past, but they are out of the deal now.

DFA with ace investor Sudhir Valia has signed many big deals including investments in debt-laden Suzlon and hopes are high that Dilip Shanghvi, who is said to be interested in the defence sector, may look at the ABG Shipyard deal closely.

Talking to ET Now, ABG Shipyard's Rishi Agarwal said, "We are in discussion with many strategic players for a stake sale."

(Image: Reuters)