*Ocean Blue Boating*, a luxury boat manufacturer, wants to raise funds from PEs for expansion.
The company wants to raise the funds in tranches over next 5 years beginning this year. The amount could be anywhere between $44mn - $55mn (Rs.200-Rs.250 crore). Much of the funds will be required in its boat manufacturing JV with *M&M*. According to *Malav Shroff*, CEO, the JV -*Mahindra Ocean Blue* - has set up a boat manufacturing facility in Goa to build high-potential fibreglass powerboats. It was started 4 months ago and the company plans to build around 100 boats by the end of FY 11. The boats, which will be branded as Mahindra Odyssea, would be priced in the range of Rs16 lakh - Rs60 lakh The company has also partnered with international sailing yachts brands 'Nautor's Swan' and ‘Beneteau’ will sell luxury and sport yachts in India. These yachts will cost Rs. 3 crore or more. It also deals in small sport yachts and boats. It is also the main organiser of the Mumbai Boat Show. Ocean Blue has a marina development division which builds and installs landing systems and marinas. Its first marina is expected to come up in Kochi in the next 2 months. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
