India: ABG Shipyard's Chief Financial Officer Dhananjay Datar said that the shipyard was trying to raise US$150 million.
ABG and Bharati Shipyard are both vying to take over offshore shipowner Great Offshore.
While Mr Datar did not outline the methods ABG would be employing to raise the capital, he said that it could be used for retiring debts.
If ABG takes over Great Offshore, the company would need nearly US$98 million to pay for shares.