Seven Islands Shipping files IPO papers with SEBI

India Infoline News Service | Mumbai | October 05, 2017 18:18 IST

Seven Islands Shipping has filed preliminary papers with SEBI to raise Rs 450 crore through an initial public offering (IPO), draft papers filed with markets regulator showed.

IPO Concept
Seven Islands Shipping has filed preliminary papers with SEBI to raise Rs 450 crore through an initial public offering (IPO), draft papers filed with markets regulator showed.
 
The IPO comprises fresh issue of shares worth Rs 200 crore, besides a sale of scrips to the tune of Rs 250 crore by private investor Wayzata Investment Partners and the promoters.
 
Funds raised through the issue will be used to buy a very large crude carrier and for other general corporate purposes. 
 
Edelweiss Financial Services is the sole book running lead manager to the issue. The shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).
 
Seven Islands Shipping is a liquid seaborne logistics company and operates under two categories viz. crude oil trade and liquid products trade that includes white oils, black oils, and lube oil.
 
Last month turned out to be action-packed for the IPO markets as more firms approached SEBI to float initial share sale offerings. This included Prince Pipes and Fittings, HG Infra Engineering, Newgen Software Technologies, Apollo Micro Systems, Amber Enterprises, Lemon Tree Hotels and CMS Info Systems.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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