Dolphin Offshore Enterprises (India) Limited announced that its wholly owned subsidiary, Beluga International (IFSC) Private Limited, has received a letter of provisional registration at Gujarat International Finance Tec-City (GIFT City)-IFSC, Gujarat on July 10, 2026. The subsidiary is set to function as a finance company, specifically focusing on the operating lease of ships, ocean vessels, and other equipment as specified by the authority. This strategic move marks the company's entry into the financial services sector within the GIFT City framework.

Beluga International (IFSC) Private Limited was incorporated under the provisions of the Companies Act, 2013, with its registered office located in GIFT City, Gujarat. The entity holds a Corporate Identification Number (CIN) of U64990GJ2026PTC174581. As the subsidiary is yet to commence business operations, its size and turnover figures are currently not applicable. The registration was disclosed to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The capital structure of the newly formed entity reveals an authorized capital of ₹ 2,00,00,000, divided into 2,00,00,000 equity shares of ₹ 1 each. The subscribed and paid-up capital stands at ₹ 1,82,00,000, comprising 1,82,00,000 equity shares of ₹ 1 each, although the paid-up capital is yet to be infused. Dolphin Offshore will acquire 100% of the share capital of Beluga IFSC through a cash consideration amounting to ₹ 1,82,00,000, which will be paid once the bank accounts are opened.

Financial and Operational Details

The following table outlines the key financial and structural details of the acquisition and the new subsidiary:

The disclosure confirmed that the transaction does not fall within related party transactions, and no promoter or group companies hold any interest in the entity other than Dolphin Offshore. Consequently, the requirements regarding arm's length pricing are not applicable in this instance. The company stated that no specific governmental or regulatory approvals were required for this acquisition beyond the provisional registration already received.

Dolphin Offshore Enterprises (India) Limited has closed its trading window for designated persons and their immediate relatives effective July 1, 2026. The restriction will remain in place until 48 hours after the declaration of the unaudited financial results for the quarter ending June 30, 2026. This measure is intended to prevent insider trading in anticipation of the quarterly earnings announcement.

The closure was implemented in accordance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. It aligns with the company's internal Code of Conduct designed to regulate, monitor, and report trading by insiders. The designated persons are prohibited from dealing in the company's securities during this blackout period.

The unaudited financial results for the quarter ending June 30, 2026, pertain to the first quarter of the financial year 2026-27 (Q1FY27). The company has not yet announced the specific date for the board meeting where these results will be considered. This information will be intimated to the stock exchanges in due course.

The communication was addressed to the Corporate Relations Departments of BSE Limited and National Stock Exchange of India Limited. The filing was signed by Krena Khamar, Company Secretary & Compliance Officer, on June 18, 2026.