Sadhav Offshore Raises INR 25 Cr from Negen Capital to Launch Floating Dry Dock Facility The funding will be primarily deployed towards capital expenditure, with the dry dock facility addressing a critical gap in India's shipping industry.
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Sadhav Offshore, a key player in India's maritime services industry, has secured INR 25 crores in an equity funding round led by Negen Undiscovered Value Fund, with participation from several family offices and high-net-worth individuals.
The fresh capital will be used to commission a floating dry dock facility, bolstering India's limited domestic ship repair infrastructure and supporting the country's growing maritime ecosystem.
The funding will be primarily deployed towards capital expenditure, with the dry dock facility addressing a critical gap in India's shipping industry. At present, due to inadequate domestic repair options, many Indian vessels are forced to travel abroad for maintenance, resulting in increased downtime and operational inefficiencies. Sadhav's new facility aims to change that by offering localised, high-quality, and timely repair services to both commercial and defence fleets.
"Ship repair is an evergreen industry, anchored by regulatory mandates requiring regular maintenance of vessels. We see tremendous potential in the management team of Sadhav Offshore to build a leading platform that fills critical gaps in India's maritime ecosystem," said Neil Bahal, Founder and CEO of Negen Capital. "Their vision aligns perfectly with our focus on backing high-growth, high-impact sectors."
Founded in 1992, Sadhav Offshore has over three decades of experience delivering maritime solutions. It services a wide range of vessels, including those operated by the Indian Coast Guard and other defence and commercial entities. Since 2013, the company has operated the dry dock at Paradip Port, where it currently repairs over 70% of the Coast Guard's FPV fleet on the eastern seaboard. Its clientele has included international players such as Svitzer (Maersk), with ships even arriving from Bangladesh and Port Blair for drydocking.
"Our focus on delivery with quality, as well as integrity in our dealings, has helped us earn the trust of both Commercial and Defence customers," said Devahuti Choudhury, Director and CEO of Sadhav Offshore. The company also partners with Kongsberg Maritime (formerly Rolls Royce Marine AS) for servicing advanced waterjet propulsion systems.
As India targets becoming one of the top five shipbuilding nations by 2047 and allocates over USD 20 billion toward maritime infrastructure under programmes like Sagarmala and Maritime India Vision 2030, Sadhav Offshore is strategically positioned to support this transformation.
With this investment, the company is poised to scale its capabilities and contribute meaningfully to India's maritime self-reliance goals.
