New Delhi-based HAL has agreed to buy a majority holdingfrom French subsea giant Technip which owns a 75% stake.
The deal has triggered an open offer to other shareholdersfor the remaining 25% of outstanding shares in the Bombay-listed company.
HAL has bid INR 97 per share for those units, Seamecrevealed in an exchange filing, valuing the company at just over INR 3.4bn($55m).
Shares in Seamec were changing hands for just under INR 100 apiece at the close of trading today.
The company owns and operates five diving support vessels providingsubsea services in India.
