360 ONE fund buys US$4.17M stake in Seamec after offshore stock's correction
What's the deal? 360 ONE Pipe FundDealroom has a profile for this one. Try Dealroom → acquired a 0.79% stake in offshore-vessel operator SeamecDealroom has a profile for this one. Try Dealroom → on 14 August 2026, buying 2 lakh shares at US$20.8 each for US$4.17M. The purchase came through a bulk deal, at a marginal discount to the previous close of US$20.9.
Who's buying? The fund is managed by 360 ONE Asset ManagementDealroom has a profile for this one. Try Dealroom →, formerly IIFL Wealth & Asset ManagementDealroom has a profile for this one. Try Dealroom →, which handles money for high-net-worth clients and institutions.
Why now? Seamec entered at roughly 10.5% below its 52-week high of US$23.2, set on 19 May 2026. The stock trades close to 99% above its 52-week low of US$10.5 from November 2025, giving the fund an entry after a partial correction. Seamec's market capitalisation stands at US$530.7M.
What's the endgame? Seamec operates offshore support vessels for oil and gas exploration, serving ONGCDealroom has a profile for this one. Try Dealroom → and other companies in India's western offshore fields. Its earnings track vessel utilisation and day rates, both tied to offshore capex.
The signal: With crude oil near $87 per barrel in August 2026, exploration and production firms have reason to sustain offshore spending — a backdrop that lifts charter demand for operators like Seamec. A recognised asset manager building a position on a dip points to renewed institutional interest in the offshore services segment.
Read more: Univest
Image credit: Helix ESG
