SEAMEC Limited entered into a diving agreement with HAL Offshore Limited on July 23, 2026, to provide diving subsea services on the ONGC vessel Samudra Prabha. The total contract value is approximately USD 9.42 million exclusive of GST. This agreement allows SEAMEC to secure necessary services for the vessel it manages, reinforcing its operational capabilities in the offshore sector.

The transaction is classified as a related party transaction and was conducted at arm's length in the normal course of business. HAL Offshore Limited holds 70.77% of the shareholding in SEAMEC Limited and is identified as the promoter of the company. The agreement was disclosed to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Agreement

The agreement outlines the commercial terms between SEAMEC and its promoter group entity. The following table summarizes the key particulars of the transaction:

The disclosure was submitted to BSE Limited and National Stock Exchange of India Limited on July 23, 2026. The filing confirms that there are no special rights, such as the right to appoint directors or restrictions on capital structure, attached to this agreement. The event occurred at 13:53 hours on the same day.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE497B01018/44616f42-cab9-4e09-add1-c5f6a0130154.pdf

SEAMEC Limited has entered into a Memorandum of Agreement (MOA) with HAL Offshore Limited to acquire the vessel SEAMEC ANANT for a consideration of USD 70 million. The purchase, scheduled for delivery around August 31, 2026, will strengthen the company's operational assets in the normal course of business.

The agreement was signed on July 21, 2026, and involves the acquisition of the vessel identified by IMO No. 9412206. This transaction is a related party transaction as HAL Offshore Limited is the holding company of SEAMEC Limited. The deal has been conducted at arm's length.

Transaction Details

The acquisition is structured as a purchase from the holding company, with all regulatory compliances completed. The company has intimated the stock exchanges regarding the related party nature of the transaction.

The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The requisite details were submitted in the prescribed annexure.