What is Bharati Defence and Infrastructure Limited?

Bharati Defence and Infrastructure Limited (formerly Bharati Shipyard Limited) is a Mumbai-headquartered company engaged in shipbuilding and maritime infrastructure. It was once one of India's largest private shipbuilders, with facilities at Ratnagiri (Maharashtra) and Ghodbunder, capable of building patrol vessels, offshore support vessels, and commercial ships.

Is Bharati Defence the same as Bharti Airtel?

No. Bharati Defence and Infrastructure Limited is a shipbuilding company with CIN L61100MH1976PLC019092, completely unrelated to Bharti Airtel Limited (the telecom company). The similar-sounding names are a common source of confusion — Bharati Defence is in shipbuilding and naval defence, while Bharti Airtel is in telecommunications.

Who were the promoters of Bharati Shipyard / Bharati Defence?

The original promoters of Bharati Shipyard were the Mandalia family. P. C. Kapoor was a prominent figure associated with the company's management. Following financial restructuring and insolvency proceedings, control shifted to lender-nominated management.

Why is the share price of Bharati Defence only ₹0.05?

The share price of ₹0.05 (five paise) reflects the near-complete erosion of shareholder equity following severe financial distress, debt accumulation, and insolvency proceedings. In most IBC resolution processes, existing equity shareholders receive minimal or zero recovery as lender claims are settled first from the enterprise value.

Can Bharati Defence be revived given India's defence shipbuilding push?

India's government push for indigenous naval shipbuilding under 'Make in India' and the defence PLI scheme provides a macro tailwind. However, revival of the existing company as-is for current shareholders is highly unlikely given the accumulated debt and completed insolvency process. Any shipbuilding revival would likely occur under new ownership and management.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Bharati Defence and Infrastructure?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Bharati Defence and Infrastructure shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Bharati Defence and Infrastructure Unlisted Share Price | Buy Bharati Defence and Infrastructure Pre-IPO Shares — wisefolio

Investment Thesis

Bharati Defence and Infrastructure Limited (formerly Bharati Shipyard) was once among India's top private sector shipbuilders but has been decimated by debt accumulated during the post-2008 shipping downturn. The share price of ₹0.05 represents near-complete equity destruction. While India's defence shipbuilding sector offers strong macro tailwinds, these benefits are unlikely to accrue to existing shareholders in the distressed entity. This stock should be treated as effectively worthless from an equity investment perspective.

Pros

ISIN INE673G01013 confirmed; listed on BSE (532609) and NSE (BHARATIDIL) — exchange-regulated company.
NCLT Mumbai approved revival in January 2025 — successfully emerged from liquidation as a going concern.
One of India's largest shipbuilding companies: jackup rigs, PSVs, tugs, dredgers, fishing vessels, bulk carriers, tankers, RORO vessels.
Four shipyards: Ratnagiri, Dabhol, Mangalore, Kolkata — geographically diversified marine manufacturing footprint.
Defence and infrastructure focus aligns with India's Make in India shipbuilding push; strong government tailwinds.

Cons

Emerged from liquidation January 2025 — new management rebuilding operations; execution track record under Sandeep Agarwal unproven.
Shipbuilding is capital-intensive with long project cycles; rebuilding order book post-insolvency will take time.
Significant financial restructuring baggage; legacy liabilities and creditor claims may remain.
Shipbuilding faces competition from South Korean, Chinese yards with far greater scale and government subsidies.

Business Segments

Shipbuilding

Construction of jackup rigs, platform supply vessels, tugs, dredgers, fishing vessels, bulk carriers, cargo and container ships, tankers, RORO vessels.

Infrastructure

Infrastructure activities; Bharati Defence and Infrastructure encompasses both shipbuilding and infrastructure verticals.

Revenue Model

Bharati Defence and Infrastructure Limited historically generated revenue through shipbuilding contracts — both defence orders from Indian naval and coast guard authorities and commercial orders from shipping companies. Revenue was project-based (milestone/delivery-linked) with long order cycles. The company also earned from ship repair activities. Post-insolvency, current operational status and revenue are not publicly disclosed.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds12

Growth Plans

India's defence modernisation and naval expansion requiring more shipbuilding capacity than public yards can supply

Potential acquisition of Bharati's shipyard infrastructure by a strategic or financial investor for new shipbuilding operations

Government policy pushing for private sector participation in defence manufacturing

Blue economy initiatives requiring expansion of India's commercial maritime fleet

Industry Tailwinds

Recent Developments

NCLT Mumbai approves closure of liquidation

Company revived as going concern; control transferred to new management under Sandeep Agarwal; fresh start post-IBC process.

January 2025

Comparable Companies

CompanyTypeTickerMkt Cap

Mazagon Dock Shipbuilders LimitedListedMAZDOCK~80,000 Cr

Cochin Shipyard LimitedListedCOCHINSHIP~25,000 Cr

Garden Reach Shipbuilders & EngineersListedGRSE~12,000 Cr

ABG Shipyard (Distressed Comparable)ListedUnlisted/Delisted—

Frequently Asked Questions

The company — originally Bharati Shipyard Limited — faced severe financial difficulties following the global shipbuilding downturn post-2008. It underwent Corporate Debt Restructuring (CDR) with its lender consortium. The company was subsequently renamed Bharati Defence and Infrastructure Limited as it pivoted towards defence shipbuilding contracts. However, debt pressures continued and the company entered insolvency proceedings under the IBC.

About Bharati Defence and Infrastructure

Bharati Defence and Infrastructure Limited is a Mumbai-based shipbuilding and defence infrastructure company incorporated in 1976. The company, formerly one of India's major private shipbuilders, went through a severe corporate insolvency resolution process (CIRP) under the IBC and was revived in January 2025 through NCLT approval of a resolution plan submitted by Sandeep Agarwal's group — one of the most significant private shipyard revival cases in India. At its peak, Bharati Defence operated one of India's largest private shipyards, primarily serving the government and defence sectors with vessel construction, ship repair, and offshore platform fabrication. The company had significant yard infrastructure on India's western coast, with dry docks and fabrication capacity for large commercial and defence vessels. The company's troubles began with severe financial stress from a combination of high leverage, order execution delays, and the cyclical downturn in the global and Indian shipbuilding markets. The Indian Navy and Coast Guard are Bharati Defence's primary natural customers, but government procurement timelines are long and payment cycles challenging for highly leveraged contractors. The January 2025 NCLT approval of the resolution plan under Sandeep Agarwal represents a significant development — the company is being revived from the verge of liquidation with new promoter-backed capital and management. This revival is strategically significant given India's push for indigenous defence manufacturing under Aatmanirbhar Bharat and the Make in India programme for defence, where private shipyards are essential to reducing dependence on DRDO/GRSE/HSL (public sector). The revived entity under Sandeep Agarwal's group will inherit Bharati Defence's yard infrastructure and potentially its order book relationships. India's Navy and Coast Guard vessel orders provide long-duration revenue visibility for a successfully revived Bharati Defence.

Key Milestones

Founded 1968 as a partnership firm; incorporated December 22, 1976; converted to public limited company 1996

Common questions about unlisted shares

How do I buy Bharati Defence and Infrastructure unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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